Monthly Archives: November 2015

Depreciation rates as per Income Tax Act

Depreciation rates as per Income Tax Act (For F.Y 2014-15 & 2015-16) Depreciation rates as per I.T Act for most commonly used assets S No. Asset Class Asset Type Rate of Depreciation   1. Building Residential buildings except hotels and boarding houses 5% 2. Building Hotels and boarding houses 10% 3. Building Purely temporary erections… Read More »

Tax on EPF withdrawals – Some Important Facts

The Employees’ Provident Fund (EPF) is an investment by salaried individual for retirement or for long term requirements. But with now a days people don’t continue with same organization for longer period. They keep on switching the employment for either good hike or for batter career opportunity. So at this point they withdraw the EPF… Read More »