The Finance Minister Mr. Arun Jaitley presented Budget for the Financial Year 2017-18 in the Parliament. In this budget he has offered relaxation schemes for the farmers, senior citizens and women’s. He offered tax relief in Income tax slab rate FY 2017-18 AY 2018-19 to the salaried class person.
Income-Tax
Depreciation Rate Chart on Fixed Assets of Income Tax Act
Dear Friends, today we have to discuss about the depreciation rate chart which is calculated on the fixed assets as per the income tax act. You know very well about the “Depreciation”. Depreciation is the amount which is deducted from the fixed assets annual on a specified percentage. So, today we talk about what is the percentage is used on different fixed assets as per the given Depreciation chart as per Income Tax Act for FY 2012-13.