Taxation

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Tax Depreciation Rates

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Depreciation rates specified for the purposes of section 22 shall be -

I. Building (all types). @10%
II. Furniture (including fittings) and machinery and plant (not otherwise specified), Motor vehicles (all types), ships, technical or professional books @15%
III. Computer hardware including printer, monitor and allied items, machinery and equipment used in manufacture of I.T. products aircrafts and aero engines @30%
IV. In case of mineral oil concerns the income of which is liable to be computed in accordance with the rules in Part-I of the Fifth Schedule.
(a) Below ground installations @ 100%
(b)Offshore platform and production installations. @ 20%

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posted @ 3:12 PM,

9 Comments:

At December 24, 2008 at 12:38 AM, Anonymous The Luscious one! said...

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At January 2, 2013 at 5:00 PM, Anonymous valuers said...

Its useful life is not considered in tax depreciation. Tax depreciation is designed to reduce the net present value of taxes owned. Tax laws also allow some of the fixed assets to be charged entirely to expense so that effective depreciation period is one tax year

 
At January 2, 2013 at 5:02 PM, Anonymous property valuers said...

Tax depreciation is the depreciation as an expense on a tax return for a reporting period under consideration by the tax agencies.

 
At January 2, 2013 at 5:03 PM, Anonymous Quantity surveyors said...

Depreciation report is a report that briefs some analysis and recommendations on funding to ensure it is adequate when required. This report is a plan that provides resources for major repairing or replacements of assets. Depreciation is the method using which a cost is allocated to a property according to the time of its life; that cost can be availed by the owner through tax agencies.

 
At January 2, 2013 at 5:04 PM, Anonymous Tax depreciation said...

The report is not very complex but it is very essential as it is the base of many important deals and property valuations. . A report is also prepared after or before depreciation. It is a kind of report that briefs some analysis and recommendations on funding to ensure it is adequate when required and is called depreciation report

 
At April 24, 2013 at 9:49 AM, Anonymous Depreciation report said...

A portion of total company sales revenues includes recover costs invested in its capital. In a real sense of a company sells some of its fixed assets in the sale price it charges it customers

 
At April 24, 2013 at 9:51 AM, Anonymous Depreciation schedule said...

when you go to a grocery store, a small portion of the price you pay for the eggs and bread goes towards the cost of buildings, machinery, bread ovens etc.Each reporting period, a business recover part of the cost invested in its capital.

 
At October 3, 2014 at 10:51 AM, Blogger leona fassi said...

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At February 4, 2015 at 4:50 PM, OpenID taxdepreciationinfo said...

Its helpful life is not thought to be in assessment deterioration. Charge deterioration is intended to lessen the net present estimation of charges claimed. Charge laws additionally permit a portion of the settled advantages for be charged totally to cost so that compelling devaluation period is one assessment year

 

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