Depreciation Rate change under Income Tax
For section 115BA entities
By the ref. of Notification No. 103/2016 where there is
change in depreciation rate
For the entities under the section 115BA of Income Tax
(1) These rules
may be called the Income-tax (29th Amendment) Rules, 2016.
(2) In the Income-tax Rules, 1962 (here after referred
to as the principal rules),-
(a) In rule 5, after sub-rule (1), the following
proviso shall be inserted with effect from 1st day of April, 2016, namely:-
“Provided that in case of a domestic company which has
exercised option under sub-section (4) of section 115BA, the allowance under
clause (ii) of sub-section (1) of section 32 in respect of depreciation of any
block of assets entitled to more than forty percent shall be restricted to
forty percent on the written down value of such block of assets.”
(b) In the New Appendix I, in the Table, in the second
column, for the figures “‘50’, ‘60’, ‘80’, ‘100’ ”, wherever they occur, the
figure “40” shall be substituted with effect from the 1st day of April, 2017.
Read Also:- Section 115BA
Read Also:- Section 115BA