What is the rate of depreciation charged on Gas Cylinders for industrial use under Income Tax Act, 1961?

CS Executive · Tax Laws and Practice · PYQS · December 2021
What is the rate of depreciation charged on Gas Cylinders for industrial use under Income Tax Act, 1961?
(A) 10%
(B) 15%
(C) 30%
(D) 40%

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Income Tax Act, 1961

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