Under the Income Tax Act, 1961, depreciation on machinery is charged on ………

Name: Under the Income Tax Act, 1961, depreciation on machinery is charged on ………
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Depreciation on machinery under the Income Tax Act, 1961, is charged on the written down value of the machinery. This method allows for the deduction of a depreciation amount each year based on the asset's value after accounting for depreciation in the previous years, rather than its original purchase price or current market price.

Under the Income Tax Act, 1961, Depreciation on Machinery Is