Solar Panel Depreciation Rate As Per Companies Act

237 e dated 31 03 2014 and notification no g s r.

Solar panel depreciation rate as per companies act.

Solar photovoltaic panels and modules for water pumping and other applications. 1 schedule ii 2 see section 123 useful lives to compute depreciation. Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. Hence one could claim 100 depreciation for a solar power project if the asset is in use for more than 180 days of the fiscal year.

Depreciation is calculated by considering useful life of asset cost and residual value. Depreciation calculator for companies act 2013. These provisions are applicable from 01 04 2014 vide notification dated 27 03 2014. Depreciation rates as per the income tax act.

Wind mills and any other specially designed devices that operate on wind mills installed on or after april 1 2014 80 00. Depreciation under companies act 2013. Rates has been changed for financial year 2017 18 and onwards. In this article we have compiled depreciation rates under companies act 2013 under written down value wdv method and as per straight lime method slm.

Depreciation rates as per i t act for most commonly used assets. Under the heading plant machinery point b vi there is no specific rate mentioned for solar power plant. Depreciation as per companies act 2013 for financial year 2014 15 and thereafter. Now the maximum rate of depreciation is 40.

Part a tangible assets. Depreciation rate solar power plant per companies act income tax goods and services tax gst service tax central excise custom wealth tax foreign exchange management fema delhi value added tax dvat sez special economic zone llp limited liability partnership firm trust society company laws dtaa notifications circulars case. 26 september 2014 dear all i have a query regarding the depreciation rates as per companies act 2013 as follows.