Depreciation Rate Chart on Fixed Assets of Income Tax Act

Dear Friends, today we have to discuss about the depreciation rate chart which is calculated on the fixed assets as per the income tax act. You know very well about the “Depreciation”. Depreciation is the amount which is deducted from the fixed assets annual on a specified percentage. So, today we talk about what is the percentage is used on different fixed assets as per the given Depreciation chart as per Income Tax Act for FY 2012-13.

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Depreciation chart as per Income Tax Act for FY 2012-13 and AY 2013-14. Assets are bifurcated in five classes as under for the purpose of Depreciation as per Income Act .

1. Building
2. Furniture
3. Plant and Machinery (P&M)
4. Ships
5. Intangible assets

There is a concept of block of assets. Blocks of assets are defined based on rates of depreciation of respective block. There are total 13 different rates of depreciation hence there are total 13 Blocks of assets.

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Depreciation chart as per Income Tax Act for FY 2012-13 and AY 2013-14 is as under:

How to use depreciation rate chart:

Above table is very user-friendly and provide better navigation. You can search assets in search box e.g. “furniture”, you will get depreciation rate of furniture. You can decide to show 10, 25,50 or 100 rows at a time. You can take print out or take PDF version by selecting 100 rows (for all entries) and clicking on respective option which is available at the end of post. You can sort table.

Building Block-01 i. Residential buildings except hotels and boarding houses 5%
Building Block-02 ii. Other than Residential buildings (not covered in Block No.1 and3) 10%
Building Block-03 i. Buiding acquired on or after 01st Sep,2002 for installing PandM forming part of water supply project or water treatment systmen and which is put to use for the prupose of business of providing infrasturcture facilities u/s 80-IA(4)(i) 100%
Building Block-03 ii. Purely temporary erections such as wooden structures 100%
Furniture Block-04 i. Furniture – Any furniture / fittings including electricals fittings 10%
Plant and Machinery Block-05 i. Motor cars other than thouse used in a business of running them on hire 15%
Plant and Machinery Block-05 ii. PandM other those  covered in block no. 6 to 11 below. 15%
Plant and Machinery Block-06 i. Motor buses/taxies/lorries used in a business of running them on hire 30%
Plant and Machinery Block-06 ii. Moulds used in plastic and rubber factories 30%
Plant and Machinery Block-06 iii. PandM used in semi conductor industry other than those covered in Block no. 11 below 30%

I hope you like this depreciation rate chart post. Give your important suggestions in comment box regarding this post and share your knowledge with your friends, colleague, family members and others. Thanks.

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