Tax asset depreciation calculator
Depreciation rates as per income tax act for the financial years 2019-20 2020-21 are given below. If your business uses a different method of depreciation for your financial statements you can decide on the assets useful life based on how long you expect to use the asset in your business.
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For tax depreciation different assets are sorted into different classes and each class has its own useful life.
. You can use our depreciation calculator. Building See Notes 1 to 4 below the Table 1 Buildings which are used mainly for residential purposes except hotels.
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