Depreciation On Solar Panels In India

Scenario uptil 31 st march 2017.

Depreciation on solar panels in india.

This in return allows the user to claim tax benefits on the value depreciated in a given year. The accelerated depreciation benefit allows the commercial and industrial users of solar power in india to depreciate their investment in a solar power plant at a much higher rate than general fixed assets. To promote the use of solar power in the commercial and industrial sectors the government of india offers accelerated depreciation of fixed assets equated with the solar power plant the current rate of acceleration is 40 that can be claimed in one year. Solar power is being promoted in corporates and private sector by govt of india through tax relief by allowing them to avail higher rate of depreciation more often termed as accelerated depreciation ad benefit under section 32 of income tax act.

Depreciation rate solar power plant per companies act income tax goods and services tax gst service tax central excise custom wealth tax foreign exchange. Solar panel subsidy in west bengal west bengal is a pioneer in solar technology in india. K solar photovoltaic modules and panels for water pumping and other applications. 40 l windmills and any specially designed devices which run on wind mills installed on or before march 31 2012 m any special devices including electric generators and pumps running on wind energy installed on or before march 31 2012.