Depreciation Rates
Businesses depreciate long-term assets for both accounting and tax purposes, for this they use Depreciation Rates as defined under the respected Act.
Depreciation Rate
Depreciation Rate
FY 2020-21: Depreciation Rate Chart As Per Income Tax Act, 1961
In taxation, depreciation refers to a reduction in the value of assets due to the wear and tear of the assets. you can claim the deduction on depreciation on those assets which have been used by the assessee for the purpose of business or profession during the previous year.
AY 2021-22: Depreciation Rate Chart As Per Income Tax Act, 1961
Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life, where the depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value.
Fixed Assets: Depreciation Rate as Per Companies Act 2013 for AY 2022-23
Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life, where the depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value.
Depreciation Rate as Per Companies Act For AY 2021-22
Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life, where the depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value.
Depreciation Rate as Per Companies Act for FY 2020-21
Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life, where the depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value.
Fixed Assets: Depreciation Rate as Per Companies Act 2013 for FY 2021-22
For calculating Depreciation as per Companies Act 2013, depreciation is calculated by considering the useful life of assets, cost, and residual value.
AY 2022-23: Depreciation Rate Chart As Per Income Tax Act, 1961
If an asset is acquired and the same is paid in cash of more than Rs. 10,000 in a day then such cost will not form the actual cost of the asset and hence depreciation cannot be claimed on the part of the asset which is paid in cash.