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Section 32 - Depreciation

Income Tax - Profit and Gains of Business or Profession - 10 - SEC - 32: DEPRECIATION In respect of - i.Tangible assets ii.Intangible assets owned WHOLLY OR PARTLY by the assessee and used for the purposes of the business or profession depreciation s .....

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Renewable Energy Devices- i.Being wind mills and any specifically designed devices which run on wind mills installed on or after 1-4-2014 ii.Being any special devices including electric generators and pumps running on wind energy installed on or aft .....

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oks, being annual publications 100% Books, other than those covered by entry (a) above 60% Books owned by assessees carrying on business in running lending libraries 100% Ships 20% Aeroplanes 40% Air pollution control Equipments, Water Pollution Cont .....

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e whether or not the assessee has claimed deduction in respect of depreciation in computing his total income. DEPRECIATION IN RESPECT OF IMPORTED MOTOR CAR Depreciation shall not be allowed in respect of imported motor car acquired before the 1st Apr .....

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after 01.04.2001 depreciation is allowable in all cases. PROVISO TO SECTION 32(1): 50% DEPRECIATION WHEN ASSET IS PUT TO USE FOR LESS THAN 180 DAYS Depreciation restricted to 50% if put to use for less than 180 days in the year of acquisition. Restr .....

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