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TMI BlogIncome-tax (Twenty-Fourth Amendment) Rules, 2002X X X X Extracts X X X X X X X X Extracts X X X X ..... 5] TABLE OF RATES AT WHICH DEPRECIATION IS ADMISSIBLE Block of assets Depreciation allowance as percentage of written down value PART A TANGIBLE ASSETS I. BUILDING |See Notes 1 to 4 below the Table] (i)Buildings which are used mainly for residential purposes except hotels and boarding houses 5 (ii)Buildings other than those used mainly for residential purposes and not covered by sub-items (11 above and (31 below (iii)Buildings acquired on or after the 1st day of September, 2002 for installing machinery and plant forming pan of water supply project or water treatment system and which is put to use for the purpose of business of providing infrastructure facilities under clause (i) of sub-section (41 of section 80-1A 100 (iv) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... acement of condemned vehicle of over 15 years of age and is put to use before the 1st day of April, 2000 for the purposes of business or profession in accordance with the second proviso to clause (ii) of sub-section (1) of section 32 (See Note 6 below the Table] 60 (vi) New commercial vehicle which is acquired on or after the 1st day of April, 2001, but before the lst day of April, 2002 and is put to use the 1st day of April, 2002 for the purposes of business or profession [See Note 6 below the Table] 50 (vii) Moulds used in rubber and plastic goods factories 40 Air pollution control equipment/being- (a) Electrostatic precipitation systems 80 (b) Pelt-filler systems (c) Dust collector systems (d) Scrubber-counter current ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs and feed water heaters (b) Recuperators and air pre-heaters 80 (c) Heat pumps (d) Thermal energy wheel for high and low temperature waste heat recovery. D. Co-generation systems: (a) Back pressure pass out, controlled extraction, extraction-cum-condensing turbines for co-generation along with pressure boilers __________________80 (b) Vapour absorption refrigeration systems (c) Organic rankine cycle power systems (d) Low inlet pressure small steam turbines__________________ E. Electrical equipment: (a) Shunt capacitors and synchronous condenser systems (b) Automatic power cut off devices (relays) mounted on individual motors (c) Automatic voltage controller (d) Power factor controller for AC motors (e) Solid st ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sing plants (x)Gas cylinders includingvalvesJmd regulators_________________________80 (xi)Glass jnanufacturing concerns -Direct fire glassJnelting furnaces__________80 (xii)Mineral oil concerns: (a) Plant used in field operations (above ground) distribution ~ Returnable packages (b) Plant used in field operations (below ground), but not including kerbside pumps including under ground tanks and fittings used in field operations (distribution) by mineral oil concerns. Renewal energy devices being- (a) Flat plate solar collectors (b) Concentrating and pipe type solar collectors (c) Solar cookers (d) Solar water heaters and systems (e) Air/gas/fluid heating systems (f) Solar crop drivers and systems (g) Solar refrigera ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... trical wiring, switches, sockets, other fittings, and fans, etc. 6. "Commercial vehicle" means "heavy goods vehicle", "heavy passenger motor vehicle", "light motor vehicle", "medium goods vehicle", and "medium passenger motor vehicle" but does not include "maxi-cab", "motor-cab", "tractor" and "road-roller". The expressions, "heavy goods vehicle", "heavy passenger motor vehicle", "light motor vehicle", "medium goods vehicle", "medium passenger motor vehicle", "maxi-cab", "motor-cab", "tractor" and "road-roller" shall have the meanings respectively as assigned to them in section 2 of the Motor Vehicles Act, 1988 (59 of 1988). 7. 'Computer software" means any computer programme recorded on any disc, tape, perforated media or other informa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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