Get the latest insights on price movement and trend analysis of Depreciation Rates in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
For the Year 2022
Depreciation is defined as the reduction in the value of assets over time due wear and tear. As per the Income Tax Act for AY 2022-23, no depreciation will be allowed if an asset is acquired in cash more than 10,000 INR in a day. However, a depreciation claim can be filed if the amount is up to 10,000 INR a day. The government came out with the list of commodities and the depreciation allowance as the percentage of the written down cost.
The building used for residential purposes other than hotels incurs a total of 5% depreciation allowance, whereas machinery and production plants, if not specified otherwise, incur an allowance of 15%. Similarly, moulds used in the rubber and polymer industry incur a depreciation allowance of 30%, while the machinery required in garment processing industries incurs a depreciation allowance of 40%.
Depreciation rates have been significant all through a wide range of products as in temporary constructions (wood structures, furniture, aesthetic designs, etc.). The depreciation incurrence on this class of products have witnessed a significant 40 %. Along the similar lines, electrical fixtures along with fittings and different furniture saw a depreciation dip of around 10 %.
Aeroplanes and Aeroengines incurred a depreciation of 40 %. Moreover, equipment catering to air pollution control such as Felt filtering system, scrubbers, dust collection, etc. incurred a depreciation of 40 %.
Procurement Resource provides latest Depreciation Rates. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
A depreciation rate refers to the percent rate at which an asset is depreciated or deflated across its estimated life. It may also be known as the percentage of a long-term investment done in an asset by a company, which the company can claim as tax-deductible expense across the useful life of the asset.
|Product Name||Depreciation Rates|
|Region/Countries Covered||Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|Currency||US$ (Data can also be provided in local currency)|
|Supplier Database Availability||Yes|
|Customization Scope||The report can be customized as per the requirements of the customer|
|Post-Sale Analyst Support||360-degree analyst support after report delivery|
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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