Post by: Renu Suresh in Income Tax
Different Depreciation Rates under Companies & Income Tax Act Depreciation is a key concept in finance and accounting. It helps us manage how the value of assets changes over time. Think of it as a way to spread out the…
Post by: IndiaFilings in Compliance Income Tax
Depreciation Rate for Furniture, Plant & Machinery Depreciation can be claimed under the Income Tax Act for the investment made in furniture, plant and machinery by an assessee during the financial year. Plant for the purposes of Income Tax includes…
Post by: IndiaFilings in Compliance Income Tax
Depreciation Rate for Building Depreciation allowance is provided under the Income Tax Act for building. The word building has however not been defined under the Income Tax Act and must be construed based on the ordinary grammatical sense, together with…