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Blog

  • 04 Feb 2019 Text - Text
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  • 13 Jan 2017 Key Points In Creation Of HUF, Tax saving in HUF AND Format of Affidavit for HUF creation and for apply PAN of HUF - KEY POINTS IN CREATION OF HUF AND FORMAT OF DEED/AFFIDAVIT FOR CREATION OF HUF: ...
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  • 16 Mar 2016 Records/Registers maintained by a Registered Central Excise Manufacturer / Dealer - Records/Registers maintained by a Registered Central Excise Manufacturer/Dealer:...
  • 01 Feb 2016 Collaborations & Joint Development Agreement and Capital Gains Tax - Collaborations & Joint Development Agreement and Capital Gains Tax: A joint ...
  • 26 Jan 2016 Magic of Zero tax on Rs. 10 Lakhs salary Income - Magic of Zero tax on Rs. 10 Lakhs Income Item No. Nature Amount 1 Basic Tax Exem...
  • 17 Dec 2015 Rules regarding quoting of PAN for specified transactions amended effective from 1st January, 2016 - Rules regarding quoting of PAN for specified transactions amended The Government...
  • Rates of Depreciation Under Company Act

    Nature of Assets Useful
    Life
    Rate
    [SLM]
    Rate
    [WDV]
    (I) Buildings [NESD]
    (a) Building (other than factory buildings) RCC Frame Structure 60 1.58% 4.87%
    (b) Building (other than factory buildings) other than RCC
    Frame Structure
    30 3.17% 9.50%
    (c) Factory buildings 30 3.17% 9.50%
    (d) Fences, wells, tube wells 5 19.00% 45.07%
    (e) Other (including temporary structure, etc.) 3 31.67% 63.16%
    (II) Bridges, culverts, bunkers, etc. [NESD] 30 3.17% 9.50%
    (III) Roads [NESD]
    (a) Carpeted Roads
    (i) Carpeted Roads – RCC 10 9.50% 25.89%
    (ii) Carpeted Roads – other than RCC 5 19.00% 45.07%
    (b) Non-carpeted roads 3 31.67% 63.16%
    (IV) Plant and Machinery
    (a) General rate applicable to Plant and Machinery not
    covered 
    under Special Plant and Machinery
    (i) Plant and Machinery other than continuous process plant not
    covered under specific
    15 6.33% 18.10%
    (ii) Continuous process plant for which no special rate has been
    prescribed under (ii) below
    8 11.88% 31.23%
    (b) Special Plant and Machinery
    (i) Plant and Machinery related to production and exhibition
    of Motion Picture Films
    1 Cinematograph films – Machinery used in the production and
    exhibition of cinematograph films, recording and reproducing
    equipments, developing machines, printing machines, editing
    machines, synchronizers and studio lights
    13 7.31% 20.58%
    2 Projecting equipment for exhibition of films 13 7.31% 20.58%
    (ii) Plant and Machinery used in glass
    1 Plant and Machinery except direct fire glass melting furnaces
    – Recuperative and regenerative glass melting furnaces
    13 7.31% 20.58%
    2 Plant and Machinery except direct fire glass melting furnaces
    – Moulds [NESD]
    8 11.88% 31.23%
    3 Float Glass Melting Furnaces [NESD] 10 9.50% 25.89%
    (iii) Plant and Machinery used in mines and quarries Portable
    underground machinery and earth moving machinery used in
    open cast mining
    8 11.88% 31.23%
    (iv) Plant and Machinery used in Telecommunications [NESD]
    1 Towers 18 5.28% 15.33%
    2 Telecom transceivers, switching centres, transmission and
    other network equipment
    13 7.31% 20.58%
    3 Telecom – Ducts, Cables and optical fibre 18 5.28% 15.33%
    4 Satellites 18 5.28% 15.33%
    (v) Plant and Machinery used in exploration, production and
    refining oil and gas [NESD]
    1 Refineries 25 3.80% 11.29%
    2 Oil and gas assets (including wells), processing plant and
    facilities
    25 3.80% 11.29%
    3 Petrochemical Plant 25 3.80% 11.29%
    4 Storage tanks and related equipment 25 3.80% 11.29%
    5 Pipelines 30 3.17% 9.50%
    6 Drilling Rig 30 3.17% 9.50%
    7 Field operations (above ground) Portable boilers, drilling tools,
    well-head tanks, etc.
    8 11.88% 31.23%
    8 Loggers 8 11.88% 31.23%
    (vi) Plant and Machinery used in generation, transmission and
    distribution of power [NESD]
    1 Thermal / Gas / Combined Cycle Power Generation Plant 40 2.38% 7.22%
    2 Hydro Power Generation Plant 40 2.38% 7.22%
    3 Nuclear Power Generation Plant 40 2.38% 7.22%
    4 Transmission lines, cables and other network assets 40 2.38% 7.22%
    5 Wind Power Generation Plant 22 4.32% 12.73%
    6 Electric Distribution Plant 35 2.71% 8.20%
    7 Gas Storage and Distribution Plant 30 3.17% 9.50%
    8 Water Distribution Plant including pipelines 30 3.17% 9.50%
    (vii) Plant and Machinery used in manufacture of
    1 Sinter Plant 20 4.75% 13.91%
    2 Blast Furnace 20 4.75% 13.91%
    3 Coke Ovens 20 4.75% 13.91%
    4 Rolling mill in steel plant 20 4.75% 13.91%
    5 Basic Oxygen Furnace Converter 25 3.80% 11.29%
    (viii) Plant and Machinery used in manufacture of non ferrous metals
    1 Metal pot line [NESD] 40 2.38% 7.22%
    2 Bauxite crushing and grinding section 40 2.38% 7.22%
    3 Digester Section [NESD] 40 2.38% 7.22%
    4 Turbine [NESD] 40 2.38% 7.22%
    5 Equipments for Calcinations [NESD] 40 2.38% 7.22%
    6 Copper Smelter [NESD] 40 2.38% 7.22%
    7 Roll Grinder 40 2.38% 7.22%
    8 Soaking Pit 30 3.17% 9.50%
    9 Annealing Furnace 30 3.17% 9.50%
    10 Rolling Mills 30 3.17% 9.50%
    11 Equipments for Scalping, Slitting, etc. [NSED] 30 3.17% 9.50%
    12 Surface Miner, Ripper Dozer, etc. used in mines 25 3.80% 11.29%
    13 Copper refining plant [NSED] 25 3.80% 11.29%
    (ix) Plant and Machinery used in medical and surgical operations
    [NESD]
    1 Electrical Machinery, X-ray and electrotherapeutic apparatus
    and accessories thereto, medical, diagnostic equipments, namely,
    Cat-scan, Ultrasound Machines, ECG Monitors, etc.
    13 7.31% 20.58%
    2 Other Equipments 15 6.33% 18.10%
    (x) Plant and Machinery used in manufacture of pharmaceuticals
    and chemicals [NESD]
    1 Reactors 20 4.75% 13.91%
    2 Distillation Columns 20 4.75% 13.91%
    3 Drying equipments / Centrifuges and Decanters 20 4.75% 13.91%
    4 Vessel / Storage tanks 20 4.75% 13.91%
    (xi) Plant and Machinery used in civil construction
    1 Concreting, Crushing, Piling Equipments and Road Making
    Equipments
    12 7.92% 22.09%
    2 Heavy Lift Equipments –
    – Cranes with capacity more than 100 tons 20 4.75% 13.91%
    – Cranes with capacity less than 100 tons 15 6.33% 18.10%
    3 Transmission line, Tunnelling Equipments [NESD] 10 9.50% 25.89%
    4 Earth-moving equipments 9 10.56% 28.31%
    5 Others including Material Handling / Pipeline / Welding
    Equipments [NESD]
    12 7.92% 22.09%
    (xii) Plant and Machinery used in salt works [NESD] 15 6.33% 18.10%
    (V) Furniture and fittings [NESD]
    (a) General furniture and fittings 10 9.50% 25.89%
    (b) Furniture and fittings used in hotels, restaurants and boarding
    houses, schools, colleges and other education institutions, libraries,
    welfare centres, meeting halls, cinema houses, theatres and
    circuses and furniture and fittings let out on hire for used on
    occasion of marriages and similar functions
    8 11.88% 31.23%
    (VI) Motor Vehicles [NESD]
    (a) Motor cycles, scooters and other mopeds 10 9.50% 25.89%
    (b) Motor buses, motor lorries, motor cars and motor taxies
    used in a business of running them on hire
    6 15.83% 39.30%
    (c) Motor buses, motor lorries, motor cars and motor taxies
    other than those used in a business of running them on
    8 11.88% 31.23%
    (d) Motor tractors, harvesting combines and heavy vehicles 8 11.88% 31.23%
    (e) Electrically operated vehicles 8 11.88% 31.23%
    (VII) Ships [NESD]
    (a) Ocean-going ships
    (i) Bulk Carriers and liner vessels 25 3.80% 11.29%
    (ii) Crude tankers, product carriers and easy chemical carriers
    with or without conventional
    20 4.75% 13.91%
    (iii) Chemicals and Acid Carriers
    1 With Stainless steel tanks 25 3.80% 11.29%
    2 With other tanks 20 4.75% 13.91%
    (iv) Liquefied gas carriers 30 3.17% 9.50%
    (v) Conventional large passenger vessels which are used for
    cruise purpose also
    30 3.17% 9.50%
    (vi) Coastal service ships of all categories 30 3.17% 9.50%
    (vii) Offshore supply and support vessels 20 4.75% 13.91%
    (viii) Catamarans and other high speed passenger
    for ships or boats
    20 4.75% 13.91%
    (ix) Drill ships 25 3.80% 11.29%
    (x) Hovercrafts 15 6.33% 18.10%
    (xi) Fishing vessels with wooden hull 10 9.50% 25.89%
    (xii) Dredgers, tugs, barges, survey launches and other
    similar ships used mainly for dredging
    14 6.79% 19.26%
    (b) Vessels ordinarily operating on inland waters
    (i) Speed boats 13 7.31% 20.58%
    (ii) Other vessels 28 3.39% 10.15%
    (VIII) Aircrafts or Helicopters [NESD] 20 4.75% 13.91%
    (IX) Railway siding, locomotives, rolling stocks,
    tramways and railway used by concerns, excluding railway
    15 6.33% 18.10%
    (X) Ropeway structures [NESD] 15 6.33% 18.10%
    (XI) Office equipments [NESD] 5 19.00% 45.07%
    (XII) Computers and data processing units [NESD]
    (a) Servers and networks 6 15.83% 39.30%
    (b) End user devices, such as, desktops, laptops, etc. 3 31.67% 63.16%
    (XIII) Laboratory equipment [NESD]
    (a) General laboratory equipment 10 9.50% 25.89%
    (b) Laboratory equipments used in education institutions 5 19.00% 45.07%
    (XIV) Electrical Installations and Equipment [NESD] 10 9.50% 25.89%
    (XV) Hydraulic woks, pipelines and sluices [NESD] 15 6.33% 18.10%