Furniture and fittings including electrical fittings [, (3)  Vessels ordinarily operating on inland waters being speed boats [, 2. Plant and Machinery except direct fire glass melting furnaces — Moulds [NESD], (c)  Plant and Machinery used in mines and quarries—Portable under ground machinery and earth moving machinery used in open cast mining [NESD], (d)  Plant and Machinery used in Telecommunications [NESD], 2. Rs. 500 Crore × 100) is the amortisation rate for the first year. (ii) For intangible assets, the provisions of the accounting standards applicable for the time being in force shall apply, except in case of intangible assets (Toll Roads) created under ‘Build, Operate and Transfer’, ‘Build, Own, Operate and Transfer’ or any other form of public private partnership route in case of road projects. (j)  Plant and Machinery used in manufacture of pharmaceuticals and chemicals [NESD], 3. BUILDING [See Notes 1 to 4 below the Table], (1) Buildings which are used mainly for residential purposes except hotels and boarding houses, (2)  Buildings other than those used mainly for residential purposes and not covered by sub-items (1) above and (3) below, (3)  Buildings acquired on or after the 1st day of September, 2002 for installing machinery and plant forming part of water supply project or water treatment system and which is put to use for the purpose of business of providing infra- structure facilities under clause (i) of sub-section (4) of GSR 237(E) [F. No. Plant and Machinery except direct fire glass melting furnaces —, Recuperative and regenerative glass melting furnaces, 2. In respect of any structure or work by way of renovation or improvement in or in relation to a building referred to in Explanation 1 of clause (ii) of sub-section (1) of section 32, the percentage to be applied will be the percentage specified against sub-item (1) or (2) of item I as may be appropriate to the class of building in or in relation to which the renovation or improvement is effected. Transmission lines, cables and other network assets, 8. BUILDING [See Notes 1 to 4 below the Table], (1) Buildings which are used mainly for residential purposes except hotels and boarding houses, (2)  Buildings other than those used mainly for residential purposes and not covered by sub-items (1) above and (3) below, (3)  Buildings acquired on or after the 1st day of September, 2002 for installing machinery and plant forming part of water supply project or water treatment system and which is put to use for the purpose of business of providing infra- structure facilities under clause (i) of sub-section (4) of section 80-IA, (4)  Purely temporary erections such as wooden structures, Furniture and fittings including electrical fittings [See Note 5 below the Table], (1)   Machinery and plant other than those covered by sub-items (2), (3) and (8) below : [See Note 5A below the Table]. Depreciation Rate Chart as per Income Tax Act Assets are bifurcated in five classes for the purpose of Depreciation as per Income Act .Below mention Depreciation Rate Chart as per Income Tax Act are applicable for the FY 2018-19(AY 2019-20) as amended by Finance Act,2018. Where a company arrives at the amortisation amount in respect of the said Intangible Assets in accordance with any method as per the applicable Accounting Standards, it shall disclose the same.]. Others including Material Handling /Pipeline/Welding Equipments [NESD], (l)  Plant and Machinery used in salt works [NESD]. 600 × Rs. Omitted vide Notification No. 7. Interpretation 3. Cost incurred by the company in accordance with the accounting standards. Based on this the charge for first year would be Rs. 4.16 Crore (approximately) (i.e. Transreceivers, switching centres, transmission and other network assets, 8 godowns, quarters... [ NESD ], ( l ) plant and Machinery used in educational institutions, XIV includes.! 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