2. Depreciation rates for power generating units, (applicable from the assessment year 1998-99, Depreciation allowance as percentage of actual cost, (a)  Plant and Machinery in generating stations including plant foundations :—, (ii)  Steam electric NHRS & Waste heat recovery Boilers/plants, (b)  Cooling towers and circulating water systems, (c)  Hydraulic works forming part of Hydro-electric system including :—, (i)  Dams, spillways weirs, canals, reinforced concrete flumes and syphons. 9. 4.16 Crore (approximately) (i.e. 1 SCHEDULE II 2 (See section 123)USEFUL … If a new addition is made in an existing asset then it is considered as an asset if it increases the capacity of the existing asset or reduces per unit cost otherwise, it should be treated as an expense. Rate of depreciation shall be 40% if conditions “Buildings” include roads, bridges, culverts, wells and tubewells. Except for assets in respect of which no extra shift depreciation is permitted (indicated by NESD in Part C above), if an asset is used for any time during the year for double shift, the depreciation will increase by 50% for that period and in case of the triple shift the depreciation shall be calculated on the basis of 100% for that period. Without prejudice to the foregoing provisions of paragraph 1,—. For the purposes of sections 32 and 33 of the Act, the depreciation rates are specified in the Schedule. (ii)  Furniture and fittings used in hotels, restaurants and boarding houses, schools, colleges and other educational institutions, libraries; welfare centres; meeting halls, cinema houses; theatres and circuses; and furniture and fittings let out on hire for use on the occasion of marriages and similar functions. 2. 5. Depreciation as per Income Tax Act, 1961- Chart Here is the complete chart, which shows the rate of depreciation on fixed assets as per Income Tax Act. Others including Material Handling /Pipeline/Welding Equipments [NESD], (l)  Plant and Machinery used in salt works [NESD]. 4. Under income tax only written down value method is allowed means each year value of asset is reduced by depreciation amount and next year depreciation is calculated on that reduced value of… Depreciation Rate Chart as per Income Tax Act Assets are bifurcated in five classes for the purpose of Depreciation as per Income Act .Below mention Depreciation Rate Chart as per Income Tax Act are applicable for the FY 2018-19(AY 2019-20) as amended by Finance Act,2018. Telecom transreceivers, switching centres, transmission and other network equipment, 3. Equipments for Scalping, Slitting, etc. Depreciation under Companies Act, 2013. (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. A taxpayer can claim it on both tangible assets and intangible assets as per the prescribed rates in the Income Tax Act. The normal depreciation rate for any general plant and machinery is 15%. Concreting, Crushing, Piling Equipments and Road Making Equipments, Cranes with capacity of more than 100 tons, Cranes with capacity of less than 100 tons, 3. 4.16 Crore/Rs. A building shall be deemed to be a building used mainly for residential purposes, if the built-up floor area thereof used for residential purposes is not less than sixty-six and two-third per cent of its total built-up floor area and shall include any such building in the factory premises. In respect of any structure or work by way of renovation or improvement in or in relation to a building referred to in Explanation 1 of clause (ii) of sub-section (1) of section 32, the percentage to be applied will be the percentage specified against sub-item (1) or (2) of item I as may be appropriate to the class of building in or in relation to which the renovation or improvement is effected. Projecting equipment for exhibition of films, (b)  Plant and Machinery used in glass manufacturing, 1. 4.16 Crore/Rs. 8. “Buildings” include roads, bridges, culverts, wells and tubewells. 5B. “Factory buildings” does not include offices, godowns, staff quarters. 90 and the tax rate is 25%. Projecting equipment for exhibition of films, (b)  Plant and Machinery used in glass manufacturing, 1. Projected Revenue from Intangible Asset (C). Depreciation allowance is one of the deductions allowed from business or professional income chargeable under section 28 or other income chargeable under section 56(2)(ii) or 56(2)(iii) of the Income Tax Act, 1961. The contents are taken from various available sources, although proper care has been taken to achieve maximum accuracy of the same. Where a company arrives at the amortisation amount in respect of the said Intangible Assets in accordance with any method as per the applicable Accounting Standards, it shall disclose the same.]. “Speed boat” means a motor boat driven by a high speed internal combustion engine capable of propelling the boat at a speed exceeding 24 kilometers per hour in still water and so designed that when running at a speed, it will plane, i.e., its bow will rise from the water. 340 - Laws of Uganda 2000 An Act to consolidate and amend the law relating to income tax and for other connected purposes. (ii) For intangible assets, the provisions of the accounting standards applicable for the time being in force shall apply, except in case of intangible assets (Toll Roads) created under 'Build, Operate and Transfer', 'Build, Own, Operate and Transfer' or any other form of public private partnership route in case of road projects. section 32, the percentage to be applied will be the percentage specified against sub-item (1) or (2) of item I as may be appropriate to the class of building in or in relation to which the renovation or improvement is effected. depreciation rate chart, depreciation rates on fixed assets, income tax depreciation rates for ay 2018-19, depreciation rates for ay 2017-18, depreciation rates for power generating units under income tax act, office equipment depreciation rate, Depreciation rates for power generating units as per Income Tax Act Of the asset as on that date— waters being speed boats [, 2 the down... 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