- Home
- Income Tax
- Depreciation Under Income Tax Act
Depreciation Rate as per Income Tax Act
- Personalized solutions
- Expert guidance
- Application assistance
- Credit score discussion
- Interest rate comparison
According to the Income Tax Act of 1961, it is legal for taxpayers to account for the depreciation rate of an asset. Where the depreciation rate is the rate at which a value of a tangible or intangible asset is reduced over a period of time, the rate is levied based on the asset class.
What is Depreciation?
Depreciation is a process where the reduced value of an asset is accounted for in the books during its operational cycle. The deductions made in the assets are reflected in the profit and loss statement. The depreciated value of the assets can be found by employing various methods such as the straight-line method and written down method. The Act also allows additional depreciation with respect to exceptional cases. A higher depreciation rate diminishes the tax liability of businesses as they can stimulate their capital expenditure. The depreciation rate levied on the asset varies in accordance with the Income Tax Act. The assets are often segmented into the Block of Assets.
➡️ Read more about union budget 2022 highlights
Block Of Assets
The block of assets refers to a bracket of assets that can be positioned into the same class. Generally, they fall under the following categories:
Tangible Assets: refer to assets that have a physical existence. For example, machinery, furniture, plants, etc.
Intangible Assets: refers to assets that don’t have a physical existence but are employed for business operations. For example, copyrights, patents, trademarks, etc.
This classification of the assets into different blocks enables businesses to decipher the depreciation rate levied on their asset. They are just required to refer to the block where their asset features and write it in their accounting books accordingly. It is to be noted that the under the Income Tax Act, the assets lose their individuality as the depreciation rate on the assets is reduced based on the rate of the block in which they fall, not individually.
Depreciation Rates on Most Commonly Used Assets (Income Tax Act, 1961)
The following table showcases the depreciation rate as per Income Tax Act, 1961 charged on assets.
Asset Block | Type of Asset | Rate of Depreciation |
Buildings | Residential Buildings barring boarding houses and hotels | 5% |
Buildings | Boarding Houses and Hotels | 10% |
Buildings | Temporary construction structures | 40% |
Plant and Machinery | Furniture/ Electrical fittings | 10% |
Plant and Machinery | Automobiles excluding those who utilised in the business for operational purposes after August 23, 2019 but before April 1, 2020; and the automobiles put to use before April 1, 2020 | 30% |
Plant and Machinery | Lorries, taxis and motor buses working for utilised in the business for hire | 30% |
Plant and Machinery | Lorries/taxis/motor buses used in a business of running them on hire purchased on or after August 23, 2019 but before the April 1, 2020 and is put to use before April 1, 2020 | 45% |
Plant and Machinery | Computer and computer softwares | 40% |
Plant and Machinery | Books owned by a professional that are annual publications | 100% |
Plant and Machinery | Books owner by a professional that are not annual publications | 60% |
Plant and Machinery | Books owned by the utilised in the business of lending libraries | 100% |
Intangible Assets | Trademarks, franchise, patents, license, copyright, know-how or other commercial or business rights of similar nature | 25% |
Depreciation Rates as per the Income Tax Act (Comprehensive Chart)
The following table showcases the depreciation rate as per Income tax Act that is further segmented into two parts.
Part A – Exhibits the depreciation rate charged on the Tangible Assets
Part B – The depreciation rate charged on the Intangible Assets
Asset Class | Asset Type | Rate of Depreciation |
|
||
Buildings | 1. Residential Real Estate (Excluding boarding houses and hotels) | 5% |
2. Residential properties that are not covered in subitems 1 (above) and subitems 3 (below) | 10% | |
|
3. Buildings procured on or after September 1, 2002, for installing plant and machinery forming part of a water treatment system or water supply project and which are used for the purpose of the business of providing infrastructure facilities under clause (i) of subsection (4) of section 80-IA | 40% |
4. Purely temporary erections like wooden structures | 40% | |
Furniture and Fittings | Furniture and fittings including electrical fittings | 10% |
Plant and Machinery | 1. Plant and machinery excluding those covered by sub-items (2), (3), and (8) below | 15% |
2. Motor cars, excluding those used in a business of running them on hire, procured or put to use on or after April 1, 1990, | 15% | |
3. (i) Motor cars, other than those used in a business of running them on hire, acquired on or after the 23rd day of August 2019 but before the 1st day of April 2020 and is put to use before the 1st day of April 2020. | 30% | |
3. (ii) Aeroplanes and Aero Engines | 40% | |
(a) Motor taxis, motor buses and motor lorries used in a business of running them on hire | 30% | |
(b) Motor buses, motor lorries and motor taxis used in a business of running them on hire, acquired on or after the 23rd day of August 2019 but before the 1st day of April 2020 and is put to use before the 1st day of April 2020. | 45% | |
3(iii) Commercial vehicle which is procured by the assessee on or after October 1, 1998, but before April 1, 1999, and is used for any period of time prior to April 1, 1999, for the purpose of profession or business in agreement with the third proviso to clause (ii) of sub-section (1) of section 32 | 40% | |
3 (iv) New commercial vehicle procured on or after April 1, 1999, but before April 1, 2000, in replacement of condemned vehicle of more than 15 years of age and is put to use prior to April 1, 2000, for the purposes of profession or business in agreement with the second proviso to clause (ii) of sub-section (1) of section 32 | 40% | |
3 (v) New commercial vehicle procured on or after April 1, 2001, but before April 1, 2002, and is put to use before April 1, 2002, for the purpose of profession or business | 40% | |
3 (vi) New commercial vehicle which is acquired on or after the 1st day of January, 2009 but before the 1st day of October, 2009 and is put to use before the 1st day of October, 2009 for the purposes of business or profession | 40% | |
3 (vii) Moulds used in plastic and rubber goods factories | ||
3 (viii) Air pollution control equipment | ||
Felt-filer System | ||
Electrostatic precipitation systems | ||
Scrubber | ||
Counter current / packed bed / venture / cyclonic scrubbers | ||
Dust collector systems | ||
Evacuation system and ash handling system | ||
3 (ix) Water pollution control equipment | 40% | |
3 (x) (a) Solid waste, control equipment Cryolite / mineral / lime / caustic / chrome recovery system (b) Resource recovery and solid waste recycling systems | ||
Aerated detritus chambers (including air compressor) | ||
Mechanical screen systems | ||
Mechanically skimmed grease and oil removal systems | ||
Flash mixing equipment and chemical feed systems | ||
Mechanical reactors and mechanical flocculators | ||
Mechanically aerated activated sludge / diffused air systems | ||
Biofilters | ||
Aerated lagoon systems | ||
Air floatation systems | ||
Methane | ||
recovery anaerobic digester systems | ||
Steam/air stripping systems | ||
Marine outfall systems | ||
Urea Hydrolysis systems | ||
Activated carbon column | ||
Disc or rotating biological contractor | ||
Marine outfall systems | ||
Ion exchange resin column | ||
Centrifuge for dewatering sludge | ||
3 (x) (a)Solid waste, control equipment Cryolite/mineral/lime / caustic / chrome recovery system
(b) Resource recovery and solid waste recycling systems |
40% | |
3. (xi) Plant and machinery used in semiconductor industry covering all integrated circuits (ICs) (not including hybrid integrated circuits) ranging from small scale integration (SSI) to large scale integration / very large scale integration (LSI/VLSI) as also discrete semiconductor devices like diodes, triacs, thyristors, transistors, etc., except those covered by entries (viii), (ix), (x) of this sub-item and sub-item (8) below | 30% | |
3. (xi) Life Saving medical equipment | ||
D.C Defibrillators for pacemakers and internal use | ||
Colour Doppler | ||
Haemodialysis | ||
Cobalt therapy unit | ||
Vascular Angiography System including Digital subtraction Angiography | ||
Heart lung machine | ||
Spect Gamma Camera | ||
Magnetic Resonance Imaging System | ||
Ventilator used with anaesthesia apparatus | ||
Ventilator except those used with anaesthesia | ||
Surgical laser | ||
Fibreoptic endoscopes including audit resectoscope/paediatric resectoscope, arthoscope, peritoneoscopes, fibreoptic flexible nasal pharyngo, microaryngoscope, video laryngo, fiberoptic flexible laryngo bronchoscope. | ||
Bronchoscope, video oescophago gastroscope, video oescopghago bronchoscope, fibreoptic flexible oesophago gastroscope | ||
4. Containers made of plastic or glass used as refills | 40% | |
5. Computers including computer software | 40% | |
6. Plant and machinery used in the textile industry’s processing, weaving, and garment sector, which is bought under TUFS on or after April 1, 2001, but before April 1, 2004, and is put to use before April 1, 2004, | 40% | |
7. Plant and machinery procured and installed on or after September 1, 2002, in a water treatment system or a water supply project and put to use for the purpose of business of providing infrastructure facility under clause (i) of sub-section (4) of section 80-IA | 40% | |
8 (i) Wooden parts used in artificial silk manufacturing machinery | 40% | |
(ii) Cinematograph films – bulbs of studio lights | 40% | |
9. Mines and quarries | 40% | |
(a)Tubs, winding ropes, haulage ropes, and sand stowing pipes | 40% | |
(b) Safety lamps | 40% | |
(c) Saltworks – Salt pans, reservoirs, and condensers, etc., made of earthy, sandy or clayey material or any other similar material | 40% | |
10. Flour mills, rollers | 40% | |
Iron and steel industry – Rolling mill rolls | ||
Sugar works – Rollers | ||
11. Energy saving devices, being— | 40% | |
A. Specialised boilers and furnaces: | ||
(a) Ignifluid/fluidized bed boilers | ||
(b) Flameless furnaces and continuous pusher type furnaces | ||
(c) Fluidized bed type heat treatment furnaces | ||
(d) High-efficiency boilers (thermal efficiency higher than 75 percent in case of coal-fired and 80 percent in case of oil/gas-fired boilers) | ||
B. Instrumentation and monitoring system for monitoring energy flows: | ||
(a) Automatic electrical load monitoring systems | ||
(b) Digital heat loss meters | ||
(c) Micro-processor based control systems | ||
(d) Infra-red thermography | ||
(e) Meters for measuring heat losses, furnace oil flow, steam flow, electric energy and power factor meters | ||
(f) Maximum demand indicator and clamp on power meters | ||
(g) Exhaust gases analyser | ||
(h) Fuel oil pump test bench | ||
C. Waste heat recovery equipment: | 40% | |
(a) Economisers and feed water heaters | ||
(b) Recuperators and air pre-heaters | ||
(c) Heat pumps | ||
(d) Thermal energy wheel for high and low-temperature waste heat recovery | ||
12. Co-generation systems: | 40% | |
(a) Back pressure pass out, controlled extraction, extraction-cum-condensing turbines for co-generation along with pressure boilers | ||
(b) Vapour absorption refrigeration systems | ||
(c) Organic Rankine cycle power systems | ||
(d) Low inlet pressure small steam turbines | ||
13. Electrical equipment | 40% | |
(a) Shunt capacitors and synchronous condenser systems | ||
(b) Automatic power cut-off devices (relays) mounted on individual motors | ||
(c) Automatic voltage controller | ||
(d) Power factor controller for AC motors | ||
(e) Solid state devices for controlling motor speeds | ||
14. Burners | 40% | |
15. Renewable Energy Devices | 40% | |
16. Books owned by assessee | 40% | |
17. Ships | 20% | |
PART B – Intangible Assets | ||
Know-how, patents, copyrights, trademarks, licenses, franchises, or any other business or commercial rights of similar nature not being goodwill of businesses of profession | 25% |
Types of Depreciation
Under the Income Tax Act, the following types of depreciation allowance are viable for the taxpayer.
- Standard depreciation shall be applied to the assets featured in a similar block.
- Plant and machinery are eligible for an additional depreciation on assets:
- That is obtained post 31.3.2005 and utilised in producing products or assets for generation and distribution of power.
- That is acquired between 31.3.2015 and 1.4.2020 by a taxpayer whose business operations are established in the backward areas of states such as Andhra Pradesh, Bihar, Telangana, and West Bengal.
- Standard Asset-wise depreciation of an operation for generation or distribution of power.
Techniques to Compute Depreciation
The techniques to compute the depreciation on the assets vary with respect to the type of the assets and even the industries. It can also vary with respect to taxation purposes. The two main techniques employed to calculate asset depreciation are the straight-line method and the Written down value method. Other than the depreciation rates, these methods employed are the reason for the varying depreciation of assets under the Income Tax Act.
Straight line method
In this method, the asset obtained is consistently expensed from the time it was acquired. The asset’s value is reduced by the asset’s salvage value calculated. The depreciation in this method is accounted for annually. This consistent devaluation of the asset is done until the valuation of the assets is at scrap value.
Formulae for Calculating Depreciation by Straight-Line Method
The computation of the depreciation is done after employing the following formulae:
(Original Cost- Residual Value)/ Useful Life
Here,
Original Cost is the price paid for the obtainment of the assets.
Residual value is the expected value of the asset at the end of its operational life.
Useful life is the expected operational tenure of the asset. It is generally valued at the number of years with periods.
This method has been identified as one of the most convenient ways to calculate the asset’s value after accounting for depreciation. The depreciation is accounted for on an annual basis, where the reduced value of the asset is reflected in the profit and loss statement. The rate of depreciation charged is constant throughout the product’s life cycle.
Written Down Value Method
In this method, depreciation is calculated by subtracting the accumulated depreciation on the assets. A fixed rate of depreciation is charged on the assets annually. And the value of the asset is reduced. Unlike the straight-line method, a higher amount of depreciation is accounted for on the assets after they are reduced from their previous depreciation cycle.
Formulae for Calculating Depreciation by Written Down Value Method
The computation of the depreciation through this method is done after employing the following formulae:
Depreciation Rate = {1 – (s/c)^1/n} * 100,
Where
S is the Residual value of the asset at the end of their useful life cycle
C is the valuation of the asset at the time of the obtainment
N refers the useful years of the asset
Claiming of Depreciation Allowance – Conditions
The assess must meet the following conditions in case they want to avail of depreciation allowance under the income tax act.
- The assess must fully or partially own the asset if they want to claim depreciation on the asset.
- The asset must be employed in the day-to-day business operations.
- For the asset to be eligible for depreciation, it should have been operational during the years depreciation is accounted for.
Amount of Depreciation Allowed
The depreciation on the assets enables the business to limit the amount of tax liability. However, under the Income Tax Act, the following depreciation parameters are allowed on the assets:
- The depreciation is generally computed with the assistance of the written down Value method (WDV). The taxpayer can refer to the depreciation rate as per the income tax act in appendix 1.
- Assets engaged in the power generation, or distribution has the provision to avail of either the straight-line method or the written down method.
- In case of a demerger, the depreciation shall be dispensed between the demerged and its amalgamated company. The calculation of depreciation on the assets would take place without accounting for the demerger.
- If the asset is under a finance lease transaction, then it would be accounted as per the AS-19, i.e. the standard accounting reference for leases.
Analysis of AS-22/IND AS 12 with Reference to Depreciation
The method employed to compute depreciation varies with respect to taxation and accounting purposes. Such timing differences must be accounted for in the financial statements under deferred tax liability or asset.
The deferred tax income refers to the income accrued for future periods owing to the differences in the taxes under Accounting Standard-22. Here temporary differences are a result of the carrying amount of the asset or liability featured in the balance sheet refers to the balance sheet.
Let’s take an example for a better understanding.
Suppose a business obtained an asset for Rs 150,000, and over time the carrying amount for the asset is valued at Rs 100,000.
The depreciation calculated concerning tax purposes is Rs 90,000, where the tax rate levied is 25%.
So, the tax base as per the IT Act = Initial Value of the Asset (Rs 1,50,000) – Cumulative Depreciation (Rs 90,000)
= Rs 60,000
Now, to recuperate the carrying amount of Rs 1,00,000, the entity required to collect a taxable income Rs 1,00,000. However, the entity can only account for the tax depreciation of Rs 60,000. After the entity redeems the carrying amount on the asset, it will be required to pay income taxes of Rs 10,000 (Rs 40,000 at 25%). The temporary taxable difference on the asset will be Rs 40,000, which is the difference between the carrying amount (Rs 1,00,000) and the tax base
(Rs 60,000).
In this case, the entity would account for a deferred tax liability of Rs 10,000 (40,000 at 25%). Depicting the income tax payable at the time of recovery of the asset’s carrying amount.
About Income Tax
- Capital Gains Tax
- GHMC Property Tax
- NPS Tax Benefit
- BBMP Property Tax
- Income Tax Surcharge Rate
- AIS Income Tax
- Income Tax 143 (1) Act
- Section 44ADA
- Income Tax Filing Due Date
- Gratuity Tax Exemption
- GST - Goods and Services Tax
- TDS Online Payment
- Income Tax Act 1961
- Calculate Income Tax on Salary
- Direct Tax
- Income Tax on Pension
- 80gg Deduction
- Advance Tax Payment
- Income Tax For Senior Citizens
Loans
- Home Loan Eligibility Calculator
- BOB Housewife Personal Loan
- 30 Lakh Home Loan EMI
- 25 Lakh Home Loan EMI
- 50 Lakh Home Loan EMI
- 1 crore Home Loan EMI
- Yes Bank Travel Loan
- Kotak Travel Loan
- HDFC Personal Loan of 2 Lakh
- Canara Travel Loan
- HDFC Personal Loan of 4 Lakh
- SBI Personal Loan of 20,000
- Indusind Bank Personal Loan of 3 Lakh
- Yes Bank Medical Loan
- SBI Personal Loan of 3 Lakh
- Kotak Medical Loan
- SBI Personal Loan of 5000
- SBI Personal Loan of 4 Lakh
- SBI Personal Loan of 40000
- BOB Personal Loan of 7 Lakh
- SBI Personal Loan of 7 Lakh
- SBI Personal Loan of 10 Lakh
- BOB Personal Loan of 50000
- BOB Personal Loan of 10 Lakh
- IDFC First Personal Loan for Wedding
- HDFC Personal Loan of 3 Lakh
- Canara Bank Housewife Personal Loan
- HDFC Personal Loan of 5 Lakh
- SBI Personal Loan of 10000
- SBI Personal Loan of 25000
- Canara Bank Students Personal Loan
- Yes Bank Personal Loan for Wedding
- ICICI Personal Loan of 10000
- ICICI Personal Loan of 5000
- ICICI Personal Loan of 15000
- HDFC Personal Loan of 1 Lakh
- BOB Personal Loan for Doctors
- BOB Personal Loan of 2 Lakh
- Axis Bank Personal Loan For Medical
- HDFC Personal Loan of 6 Lakh
- ICICI Medical Loan
- SBI Personal Loan of 15,000
- ICICI Personal Loan of 20000
- SBI Personal Loan of 30000
- ICICI Personal Loan of 50000
- SBI Personal Loan of 50000
- ICICI Personal Loan of 1 Lakh
- SBI Personal Loan of 1 Lakh
- SBI Personal Loan of 2 Lakh
- IDFC First Medical Loan
- SBI Personal Loan of 5 Lakh
- SBI Personal Loan of 6 Lakh
- SBI Personal Loan of 8 Lakh
- ICICI Personal Loan of 2 Lakh
- SBI Personal Loan of 9 Lakh
- BOB Personal Loan of 10000
- BOB Personal Loan of 40000
- HDFC Personal Loan for Medical
- BOB Personal Loan of 1 Lakh
- ICICI Personal Loan of 3 Lakh
- BOB Personal Loan of 8 Lakh
- BOB Personal Loan of 9 Lakh
- Canara Bank Government Employees Personal Loan
- Canara Bank Self Employed Personal Loan
- Federal Bank Salaried Employee Personal Loan
- Axis Bank Personal Loan of 20000
- Navi Personal Loan Eligibility Calculator
- HDFC Personal Loan of 40000
- RBL Bank Students Personal loan
- HDFC Personal Loan of 5000
- SBI Personal Loan for Wedding
- SBI Personal Loan for Medical
- HDFC Personal Loan for Wedding
- Axis Personal Loan for Wedding
- HDFC Personal Loan of 30000
- Karur Vysya Bank small loans
- Indian Bank Personal Loan for Lawyers
- Yes Bank Personal Loan of 40000
- Indusind Bank Flexi Loan
- Axis Bank Personal Loan of 5000
- Axis Bank Personal Loan of 10000
- Axis Bank Personal Loan of 15000
- Axis Bank Personal Loan of 1 lakh
- Axis Bank Personal Loan of 2 lakh
- Axis Bank Personal Loan of 3 lakh
- Axis Bank Personal Loan of 4 lakh
- Axis Bank Personal Loan of 5 lakh
- Axis Bank Personal Loan of 6 lakh
- Axis Bank Personal Loan of 7 lakh
- Axis Bank Personal Loan of 8 lakh
- Punjab & Sind Bank Travel Loan
- HDFC Senior Citizen Personal Loan
- HDFC Government Employees Personal Loan
- HDFC Salaried Employee Personal Loan
- HDFC Personal Loan for Doctors
- HDFC Personal Loan for lawyers
- Axis Senior Citizen Personal Loan
- Yes Bank Small Personal Loan
- Axis Government Employees Personal Loan
- Axis Salaried Employee Personal Loan
- Axis Students Personal Loan
- Kotak Mahindra Bank Personal Loan of 6 Lakh
- RBL Bank Personal Loan for Lawyers
- Home Loan for 60000 Salary
- RBL Bank Personal Loan Transfer
- Home Loan for 50000 Salary
- Home Loan for 30000 Salary
- ICICI Bnak Self Employed Personal Loan
- Kotak Bank Personal Loan for Doctors
- IDBI Bank Personal Loan of 1 Lakh
- ICICI Bnak Personal Loan for Doctors
- RBL Bank Personal Loan of 50000
- Karur Vysya Bank overdraft loan
- Axis Bank Personal Loan Balance Transfer
- Kotak Bank Self Employed Personal Loan
- Indian Bank Personal Loan of 7 lakh
- Indian Bank Students Personal loan
- IDFC First Bank Personal Loan of 3 Lakh
- SBI Government Employees Personal Loan
- SBI Salaried Employee Personal Loan
- SBI Students Personal Loan
- SBI Housewife Personal Loan
- RBL Bank Housewife Personal loan
- SBI Self Employed Personal Loan
- SBI Personal Loan for Doctors
- Karnataka Bank Government Employees Personal Loan
- SBI Personal Loan for Lawyers
- Bank of Maharashtra Personal Loan for Doctors
- BOB Senior Citizen Personal Loan
- ICICI Personal Loan for Senior Citizen
- Axis Bnak Personal Loan for Doctors
- Axis Bnak Self Employed Personal Loan
- Axis Bnak Housewife Personal Loan
- Kotak Mahindra Bank Personal Loan of 3 Lakh
- Bank of Maharashtra Senior Citizens Personal Loan
- Kotak Mahindra Bank Personal Loan of 50000
- IDBI Bank Personal Loan of 30000
- Bank of Maharashtra small loans
- Indian Bank Personal Loan of 6 lakh
- PNB Senior Citizens/Pensioners Personal loan
- Bank of India Personal Loan for lawyers
- ICICI Bank Small Personal Loan
- Bank of India Personal Loan for Doctors
- PNB Students Personal Loan
- ICICI Bnak Personal Loan for Lawyers
- Kotak Bank Salaried Employee Personal Loan
- Bank of India Self Employed Personal Loan
- Bank of India Students Personal Loan
- Bank of India Government Employees Personal Loan
- IDBI Bank Personal Loan of 2 Lakh
- BOB Personal Loan for Lawyers
- Indian Bank overdraft loan
- 2 crore Home Loan EMI
- 40 Lakh Home Loan EMI
- Indian Bank Personal Loan of 2 lakh
- 10 Lakh Home Loan EMI
- IDBI Bank Government Employees Personal loan
- HDFC Personal Loan of 25000
- ICICI Personal Loan of 8 Lakh
- Bank of India Senior Citizens Personal Loan
- Loans
- PNB short term personal loan
- 55 Lakh Home Loan EMI
- 4 Crore Home Loan EMI
- IDBI Bank Senior Citizens/Pensioners Personal loan
- Personal Loan for CIBIL Score of 700
- Personal Loan for CIBIL Score 650
- Personal Loan for CIBIL Score 650
- Personal Loan of 20 Lakh
- HDFC Personal Loan of 50000
- PNB Personal Loan of 4 Lakh
- HDFC Personal Loan of 20000
- 70 Lakh Home Loan EMI
- Indian Bank Personal Loan of 1 lakh
- 15 Lakh Home Loan EMI
- Home Loan for 40000 Salary
- Axis Travel Loan
- ICICI Bank Overdraft Loan
- HDFC Personal Loan of 15000
- SBI Overdraft Loan
- Canara Medical Loan
- PNB Personal Loan of 3 Lakh
- HDFC Bank Overdraft Loan
- BOB Self Employed Personal Loan
- IDFC First Bank Overdraft Loan
- Axis Bank Overdraft Loan
- Kotak Bank Overdraft Loan
- HSBC Government Employee Personal Loan
- Yes Bank Overdraft Loan
- Canara Bank Overdraft Loan
- ICICI Bank Flexi Loan
- SBI Flexi Loan
- Kotak Bank Flexi Loan
- Yes Bank Flexi Loan
- Canara Bank Flexi Loan
- ICICI Bank Short Term Loan
- SBI Short Term Loan
- IDFC First Bank Short Term Loan
- Axis Bank Short Term Loan
- Yes Bank Short Term Loan
- Kotak Bank Short Term Loan
- SBI Small Personal Loan
- HDFC Bank Small Personal Loan
- Karur Vysya Bank Personal Loan for Doctors
- IDFC First Bank Small Personal Loan
- RBL Bank Personal Loan of 10 Lakh
- Axis Bank Small Personal Loan
- RBL Bank Flexi Loan
- Kotak Bank Small Personal Loan
- SBI Personal Loan Eligibility Calculator
- Union Bank of India Personal Loan of 6 lakh
- Indusind Bank Personal Loan of 1 Lakh
- Yes Bank Personal Loan of 2 Lakh
- Karur Vysya Bank short term personal loan
- Canara Bank Small Personal Loan
- Indian Bank Personal Loan of 8 lakh
- Federal Bank Personal Loan of 6 Lakh
- Union Bank Housewife Personal loan
- BOB Students Personal Loan
- ICICI Personal Loan of 4 Lakh
- Union Bank of India Personal Loan of 5 lakh
- Federal Bank Personal Loan of 7 Lakh
- Federal Bank Personal Loan of 4 Lakh
- Union Bank Personal Loan for Doctors
- Union Bank Government Employees Personal loan
- Federal Bank Personal Loan of 1 Lakh
- Indusind Bank Personal Loan for Lawyers
- Indian Bank Personal Loan for Doctors
- Indusind Bank Personal Loan for Doctors
- Indusind Bank Students Personal loan
- Indusind Bank Senior Citizens/Pensioners Personal loan
- Canara Bank Personal Loan for Wedding
- Union Bank of India Personal Loan of 4 lakh
- Federal Bank Personal Loan of 10 Lakh
- Union Bank Personal Loan for Lawyers
- Axis Bank Personal Loan of 40000
- Union Bank of India Personal Loan of 2 lakh
- Indusind Bank Personal Loan of 9 Lakh
- Indusind Bank Personal Loan of 8 Lakh
- Indusind Bank Personal Loan of 40000
- Federal Bank Personal Loan of 3 Lakh
- Union Bank Students Personal loan
- Indusind Bank Salaried Employee Personal loan
- Kotak Personal Loan for Wedding
- HDFC Personal Loan of 7 Lakh
- HDFC Personal Loan of 8 Lakh
- BOB Personal Loan of 15,000
- BOB Personal Loan of 20,000
- BOB Personal Loan of 25000
- BOB Personal Loan of 30000
- BOB Personal Loan of 6 Lakh
- BOB Personal Loan of 4 Lakh
- BOB Personal Loan of 5 Lakh
- ICICI Salaried Employee Personal Loan
- Kotak Mahindra Bank Personal Loan of 5000
- Kotak Mahindra Bank Personal Loan of 10000
- Kotak Mahindra Bank Personal Loan of 40000
- Kotak Mahindra Bank Personal Loan of 30000
- Kotak Mahindra Bank Personal Loan of 8 Lakh
- RBL Bank Small Loan
- ICICI Government Employee Personal loan
- Kotak Mahindra Bank Personal Loan of 1 lakh
- Canara Bank Personal Loan of 5000
- Canara Bank Personal Loan of 10000
- Indusind Bank Personal Loan Transfer
- Canara Bank Personal Loan of 15,000
- Canara Bank Personal Loan of 20,000
- Canara Bank Personal Loan of 25000
- HSBC Bank Short Term Personal Loan
- Canara Bank Personal Loan of 30000
- Canara Bank Personal Loan of 40000
- Indusind Bank Small Loans
- Axis Bnak Personal Loan for Lawyers
- Federal Bank Short Term Personal Loan
- Canara Bank Personal Loan of 50000
- Canara Bank Personal Loan of 1 Lakh
- Union Bank Short Term Personal Loan
- Canara Bank Personal Loan of 2 Lakh
- Canara Bank Personal Loan of 3 Lakh
- RBL Bank Medical Loan
- Canara Bank Personal Loan of 4 Lakh
- Canara Bank Personal Loan of 5 Lakh
- ICICI Personal Loan of 10 Lakh
- IDBI Bank Travel Loan
- Yes Bank Personal Loan of 3 Lakh
- Yes Bank Personal Loan of 5 Lakh
- IDBI Bank Personal Loan of 50000
- Punjab Sind Bank overdraft loan
- Canara Bank Short-Term loan
- Canara Bank Personal Loan of 8 Lakh
- Union Bank of India Personal Loan of 1 lakh
- Federal Bank Personal Loan of 50000
- Union Bank Self Employed Personal loan
- RBL Bank Short Term Personal Loan
- Union Bank Salaried Employee Personal loan
- Indusind Bank Personal Loan of 50000
- Union Bank overdraft loan
- Indusind Bank Personal Loan of 4 Lakh
- Bank of Maharashtra Personal Loan of Rs. 5 Lakh
- ICICI Bnak Housewife Personal Loan
- HSBC Bank Small Loans
- HSBC Bank Overdraft Loan
- HSBC Bank Personal Loan Transfer
- Bank Of Baroda Small Loans
- RBL Bank Travel Loan
- IndusInd Bank Medical Loan
- HSBC Bank Medical Loan
- PNB Bank Medical Loan
- BOB Bank Wedding Loan
- Indian Bank Medical Loan
- Bank of India Medical Loan
- Bank of Maharashtra Wedding Loan
- Karnataka Bank Wedding Loan
- Karnataka Bank Travel Loan
- Punjab & Sind Bank Medical Loan
- Federal Bank Medical Loan
- Union Bank Small Personal Loan
- Federal Bank Travel Loan
- ICICI Bank Personal Loan Balance Transfer
- ICICI Personal Loan for Wedding
- Yes Bank Personal Loan of 1 Lakh
- RBL Bank Government Employees Personal loan
- IDFC First Bank Personal Loan of 2 Lakh
- Kotak Mahindra Bank Personal Loan of 7 lakh
- Indian Bank Personal Loan of 10 lakh
- Indian Bank Salaried Employee Personal loan
- IDBI Bank Personal Loan of 40000
- Karnataka Bank small loans
- IDFC First Bank Personal Loan of 1 Lakh
- Canara Bank Personal Loan of 10 Lakh
- IDFC First Bank Personal Loan of 5000
- Canara Bank Personal Loan of 9 Lakh
- IDFC First Bank Personal Loan of 10000
- 10 Lakh SBI Home Loan
- IDFC First Bank Personal Loan of 20,000
- IDFC First Bank Personal Loan of 25000
- Indian Bank Personal Loan of 9 lakh
- IDFC First Bank Personal Loan of 40000
- Canara Bank Personal Loan of 7 Lakh
- Karnataka Bank overdraft loan
- IDFC First Bank Personal Loan of 50000
- Canara Bank Personal Loan of 6 Lakh
- Union Bank of India Personal Loan of 50000
- Union Bank Senior Citizens/Pensioners Personal loan
- IDFC First Bank Personal Loan of 4 Lakh
- IDFC First Bank Personal Loan of 5 Lakh
- IDFC First Bank Personal Loan of 6 Lakh
- Federal Bank Salaried Employee Personal loan
- IDFC First Bank Personal Loan of 7 Lakh
- BOB Salaried Employee Personal Loan
- IDFC First Bank Personal Loan of 8 Lakh
- Axis Bank Fast Forward Home Loan Scheme
- IDFC First Bank Personal Loan of 9 Lakh
- Federal Bank Students Personal loan
- 80 Lakh Home Loan EMI
- Indian Bank Government Employees Personal loan
- Yes Bank Self Employed Personal loan
- Yes Bank Students Personal loan
- Yes Bank Personal Loan of 4 Lakh
- Union Bank of India Personal Loan of 40000
- Federal Bank Personal Loan of 8 Lakh
- Indusind Bank Personal Loan of 10 Lakh
- Federal Bank Personal Loan of 5 Lakh
- Federal Bank Self Employed Personal loan
- Federal Bank Housewife Personal loan
- Yes Bank Housewife Personal loan
- Federal Bank Personal Loan of 9 Lakh
- Indusind Bank Personal Loan of 30000
- PNB Personal Loan for Doctors
- Bank of Maharashtra personal loan transfer
- Indian Bank Personal Loan of 5 lakh
- Federal Bank Personal Loan for Doctors
- IDFC First Bank Personal Loan of 10 Lakh
- Kotak Bank Housewife Personal Loan
- Kotak Bank Personal Loan for Lawyers
- Canara Bank Personal Loan for Senior Citizens
- RBL Bank Salaried Employee Personal loan
- Canara Bank Personal Loan for Doctors
- Kotak Mahindra Bank Personal Loan of 9 lakh
- RBL Bank Self Employed Personal loan
- ICICI Personal Loan of 9 Lakh
- Canara Bank Personal Loan for Lawyers
- IDFC Personal Loan for Senior Citizens
- IndusInd Bank Overdraft Loan
- HSBC Bank Flexi Loan
- Federal Bank Overdraft Loan
- Union Bank Flexi Loan
- IDFC Salaried Employee Personal Loan
- Union Bank Personal Loan Transfer
- IDFC Students Personal Loan
- Axis Bank Personal Loan of 50000
- IDFC Government Employees Personal Loan
- RBL Bank Personal Loan of 30000
- IDFC Housewife Personal Loan
- Union Bank of India Personal Loan of 30000
- IDFC Self Employed Personal Loan
- IDFC Personal Loan for Doctors
- HSBC Bank Wedding Loan
- IDFC Personal Loan for Lawyers
- HSBC Bank Travel Loan
- PNB Bank Travel Loan
- BOB Bank Medical Loan
- BOB Bank Travel Loan
- Union Bank Travel Loan
- Kotak Mahindra Bank Personal Loan of 10 lakh
- Federal Bank Personal Loan of 2 Lakh
- Indusind Bank Self Employed Personal loan
- Indusind Bank Government Employees Personal loan
- Bank of Maharashtra Government Employees Personal Loan
- Indusind Bank Short Term Personal Loan
- Bank Of Baroda Overdraft Loan
- Yes Bank Small Personal Loan
- RBL Bank Wedding Loan
- IndusInd Bank Wedding Loan
- IndusInd Bank Travel Loan
- PNB Bank Wedding Loan
- Union Bank Wedding Loan
- Indian Bank Travel Loan
- Bank of India Wedding Loan
- Bank of India Travel Loan
- Bank of Maharashtra Medical Loan
- Bank Of Maharashtra Travel Loan
- Karnataka Bank Medical Loan
- Punjab & Sind Bank Wedding Loan
- Karur Vysya Bank Medical Loan
- Karur Vysya Bank Wedding Loan
- Federal Bank Wedding Loan
- IDBI Bank Wedding Loan
- DBI Bank Medical loan
- Karur Vysya Bank Travel Loan
- RBL Bank Overdraft Loan
- IDBI Bank Personal Loan for Lawyers
- Bank of Maharashtra overdraft loan
- Yes Bank Personal Loan of 9 Lakh
- Kotak Mahindra Bank Personal Loan of 2 Lakh
- RBL Bank Personal Loan of 2 Lakh
- Axis Super Save Home Loan Scheme
- 35 Lakh Home Loan EMI
- Home Loan for 70000 Salary
- Yes Bank Government Employee Personal loan
- RBL Bank Personal Loan of 7 Lakh
- RBL Bank Personal Loan of 8 Lakh
- Yes Bank Personal Loan of 7 Lakh
- IDBI Bank small loans
- RBL Bank Personal Loan of 6 Lakh
- 60 Lakh Home Loan EMI
- Kotak Mahindra Bank Personal Loan of 5 Lakh
- Yes Bank Personal Loan of 50000
- Yes Bank Personal loan for Doctors
- IDBI Bank Personal Loan for Doctors
- PNB Personal Loan of 30000
- Kotak Mahindra Bank Personal Loan of 4 Lakh
- PNB Salaried Employee Personal loan
- Bank Of India short term personal loan
- Indian Bank Personal Loan of 4 lakh
- IDBI Bank Self Employed Personal loan
- 45 Lakh Home Loan EMI
- Axis Bank Personal Loan of 30000
- Union Bank of India Personal Loan of 10 lakh
- Yes Bank Personal Loan of 8 Lakh
- RBL Bank Personal Loan of 5 Lakh
- RBL Bank Personal Loan of 1 Lakh
- IDBI Bank Flexi Loan
- Canara Bank Salaried Employee Personal loan
- ICICI Personal Loan of 7 Lakh
- PNB Personal Loan of 2 Lakh
- Yes Bank Salaried Employee Personal loan
- Yes Bank Personal Loan of 6 Lakh
- RBL Bank Personal Loan of 40000
- IDBI Bank Personal Loan of 5 Lakh
- PNB Government Employees Personal loan
- Bank Of India overdraft loan
- BOB Government Employees Personal Loan
- 5 Crore Home Loan EMI
- ICICI Personal Loan of 5 Lakh
- IDBI Bank Students Personal loan
- RBL Bank Personal Loan of 3 Lakh
- RBL Bank Personal Loan of 4 Lakh
- IDBI Bank Personal Loan of 4 Lakh
- Axis Bank Empower Home Loan Scheme
- 85 Lakh Home Loan EMI
- Indian Bank Personal Loan of 3 lakh
- PNB Personal Loan of 1 Lakh
- Kotak Bank Government Employees Personal Loan
- Axis Bank Personal Loan of 10 lakh
- Bank of India Salaried Employee Personal Loan
- PNB Personal Loan of 40000
- IDBI Bank Personal Loan of 3 Lakh
- IDFC First Bank Personal Loan Balance Transfer
- Personal Loan for Government Employees
- Union Bank of India Personal Loan of 9 lakh
- Indusind Bank Personal Loan of 6 Lakh
- Indian Bank small loans
- IDBI Bank Salaried Employee Personal loan
- Home Loan for 20000 Salary
- SBI Bank Personal Loan Balance Transfer
- Axis Bank Asha Home Loan Scheme
- 20 Lakh Home Loan EMI
- Union Bank of India Personal Loan of 8 lakh
- Indusind Bank Personal Loan of 5 Lakh
- HDFC Personal Loan of 10000
- ICICI Credit Card Application Status
- PMEGP Loan
- ICICI Personal Loan of 6 Lakh
- HDFC Bank Personal Loan Balance Transfer
- RBL Bank Personal Loan of 9 Lakh
- PNB Personal Loan of 50000
- Indiabulls Home Loan Eligibility Calculator
- Holi 2024
- Union Bank of India Personal Loan of 7 lakh
- Indusind Bank Personal Loan of 2 Lakh
- Home Loan
- Personal Loan
- Loan Against Property
- Business Loan
- Federal Bank Personal Loan for Lawyers
Most Popular on Urban Money
Bank Wise Home Loan Eligibility Calculator
- SBI Home Loan Eligibility Calculator
- HDFC Home Loan Eligibility Calculator
- Axis Bank Home Loan Eligibility Calculator
- ICICI Home Loan Eligibility Calculator
- LIC Home Loan Eligibility Calculator
- PNB Home Loan Eligibility Calculator
- Canara Bank Home Loan Eligibility Calculator
- Bank of Baroda Home Loan Eligibility Calculator
- Bank of India Home Loan Eligibility Calculator
FAQs
How is the depreciation rate as per Income Tax Act calculated?
The depreciation rate can be calculated with the straight-line or written-down value method.
What are the types of equipment under 5-year or 7-year depreciation of the business assets?
The two types of equipment under 5-year and 7-year depreciation of business assets are
- 5- Year Depreciation of Business Assets: computers, office equipment, assets under construction, and light trucks.
7- Year depreciation of Business Assets: Office furniture, appliances, and assets that haven’t been segmented into any other asset category.
What is the depreciation rate on cars?
According to agencies, the car’s value depreciates up to 49.1% within 5 years of its ownership.
What assets Cannot depreciate?
It has been identified that assets such as land and collectables like art and coins do not depreciate with time.