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State of Maharashtra - Section

Section 3 in The Maharashtra Agricultural Income-Tax Rules, 1962

3. Allowances on Account of Depreciation.

(1)The allowance under clause (6) of section 8 in respect of depreciation of any irrigation or protective work or other capital asset shall be made in accordance with the following statement of rates :-Statement of Rates of Depreciation
Serial No. Classification of Irrigation or Protective Workor other Capital Asset Rate (percentage on written down value)
(1) (2) (3)
1 Pucca Buildings 2 ½
2 Kutcha Buildings 7 ½
3 Kutcha and Pucca Buildings 5
4 Temporary Structures 15
5 Pucca Wells 1
6 Fencing of Substantial Material 5
7 Tanks 2 ½
8 Irrigation Channel Pucca 5
9 Irrigation Channel Kutcha 10
10 Kutcha Irrigation Wells 20
11 Pucca Irrigation Wells 2
12 Bullock drawn Iron Implements 5
13 Bullock drawn Wooden or Leather Implements and other SmallHand Implements 20
14 Weighing Machine 5
15 Tractors and Oil Engines and their Implements 10
16 Power Pumping Machinery 10
17 Factory-made Cart of Iron Material with Rubber-Tyred Wheels(Dunlop Cart) 5
18 Country Cart 15
19 Steam Engine 5
20 Workshop Tools 10
21 General (Machinery, Implements, Plants and other Assets) notprovided for in any of Items 1 to 20 above specifically 5
(2)For the purpose of obtaining an allowance for depreciation referred to in sub-rule (1), the assessee shall furnish particulars to the Agricultural Income-tax Officer in Form 1.
(3)The depreciation to be allowed in respect of any machinery or plant for the purpose of ascertaining the written down value of such machinery or plant referred to in clause (7) of section 8 shall be at the rate specified in sub-rule (1).