Rates of Income Tax

SwatiPanchalCA — Fri, 16 Jul 2021 12:43:54 +0000

Rates of Dep. as per income tax act

SwatiPanchalCA — Fri, 16 Jul 2021 12:37:46 +0000

Depreciation Rate Chartas per Part “C” of Schedule II of The Companies Act 2013

SwatiPanchalCA — Fri, 16 Jul 2021 12:34:06 +0000

Nature of Assets	Usefu l	Rate [SLM	Rate [WDV
I	Buildings [NESD] Building (other than factory buildings) RCC Frame StructureBuilding (other than factory buildings) other than RCC Frame StructureFactory buildingsFences, wells, tube wellsOther (including temporary structure, etc.)	60 Years 30 Years 30 Years 5 Years 3 Years	1.58%	4.87%
3.17%	9.50%
3.17%	9.50%
19.00%	45.07%
31.67%	63.16%

II	Bridges, culverts, bunkers, etc. [NESD]	30 Years	3.17%	9.50%

III	Roads [NESD] Carpeted RoadsCarpeted Roads – RCCCarpeted Roads – other than RCCNon-carpeted roads	10 Years 5 Years 3 Years	9.50% 19.00% 31.67%	25.89% 45.07% 63.16%

IV Plant and Machinery General rate applicable to Plant and Machinery not covered under Special Plant and MachineryPlant and Machinery other than continuous process plant not covered under specific Continuous process plant for which no special rate has been prescribed under (ii) belowSpecial Plant and MachineryPlant and Machinery related to production and exhibition of Motion Picture FilmsCinematograph films – Machinery used in the production and exhibition of cinematograph films, recording and reproducing equipments, developing machines, printing machines, editing machines, synchronizers and studio lightsProjecting equipment for exhibition of filmsPlant and Machinery used in glassPlant and Machinery except direct fire glass melting furnaces – Recuperative and regenerative glass melting furnacesPlant and Machinery except direct fire glass melting furnaces – Moulds [NESD]Float Glass Melting Furnaces [NESD] (iii) Plant and Machinery used in mines and quarries Portable underground machinery and earth moving machinery used in open cast mining	15 Years	6.33%	18.10%
8 Years	11.88%	31.23%
13 Years	7.31%	20.58%
13 Years	7.31%	20.58%
13 Years	7.31%	20.58%
8 Years	11.88%	31.23%
10 Years	9.50%	25.89%
8 Years	11.88%	31.23%

Nature of Assets	Useful Life	Rate [SLM]	Rate [WDV]
(iv) (v) (vi) (vii)	Plant and Machinery used in Telecommunications [NESD] TowersTelecom transceivers, switching centres, transmission and other network equipmentTelecom – Ducts, Cables and optical fibreSatellites Plant and Machinery used in exploration, production and refining oil and gas [NESD] RefineriesOil and gas assets (including wells), processing plant and facilitiesPetrochemical PlantStorage tanks and related equipmentPipelinesDrilling RigField operations (above ground) Portable boilers, drilling tools, well-head tanks, etc.Loggers Plant and Machinery used in generation, transmission and distribution of power [NESD] Thermal / Gas / Combined Cycle Power Generation PlantHydro Power Generation PlantNuclear Power Generation PlantTransmission lines, cables and other network assetsWind Power Generation PlantElectric Distribution PlantGas Storage and Distribution PlantWater Distribution Plant including pipelines Plant and Machinery used in manufacture ofSinter PlantBlast FurnaceCoke OvensRolling mill in steel plantBasic Oxygen Furnace Converter	18	Years	5.28%	15.33%
13	Years	7.31%	20.58%
18	Years	5.28%	15.33%
18	Years	5.28%	15.33%
25	Years	3.80%	11.29%
25	Years	3.80%	11.29%
25	Years	3.80%	11.29%
25	Years	3.80%	11.29%
30	Years	3.17%	9.50%
30	Years	3.17%	9.50%
8	Years	11.88%	31.23%
8	Years	11.88%	31.23%
40	Years	2.38%	7.22%
40	Years	2.38%	7.22%
40	Years	2.38%	7.22%
40	Years	2.38%	7.22%
22	Years	4.32%	12.73%
35	Years	2.71%	8.20%
30	Years	3.17%	9.50%
30	Years	3.17%	9.50%
20	Years	4.75%	13.91%
20	Years	4.75%	13.91%
20	Years	4.75%	13.91%
20	Years	4.75%	13.91%
25	Years	3.80%	11.29%

Nature of Assets	Useful Life	Rate [SLM]	Rate [WDV]
Plant and Machinery used in manufacture of non ferrous metalsMetal pot line [NESD]Bauxite crushing and grinding sectionDigester Section [NESD]Turbine [NESD]Equipments for Calcinations [NESD]Copper Smelter [NESD]Roll GrinderSoaking PitAnnealing FurnaceRolling MillsEquipments for Scalping, Slitting, etc. [NSED]Surface Miner, Ripper Dozer, etc. used in minesCopper refining plant [NSED]Plant and Machinery used in medical and surgical operations [NESD]Electrical Machinery, X-ray and electrotherapeutic apparatus and accessories thereto, medical, diagnostic equipments, namely, Cat-scan, Ultrasound Machines, ECG Monitors, etc.Other EquipmentsPlant and Machinery used in manufacture of pharmaceuticals and chemicals [NESD]ReactorsDistillation ColumnsDrying equipments / Centrifuges and DecantersVessel / Storage tanksPlant and Machinery used in civil constructionConcreting, Crushing, Piling Equipments and Road Making EquipmentsHeavy Lift Equipments -Cranes with capacity more than 100 tonsCranes with capacity less than 100 tonsTransmission line, Tunnelling Equipments [NESD]Earth-moving equipmentsOthers including Material Handling / Pipeline / Welding Equipments [NESD] (xii) Plant and Machinery used in salt works [NESD]	40 Years	2.38%	7.22%
40 Years	2.38%	7.22%
40 Years	2.38%	7.22%
40 Years	2.38%	7.22%
40 Years	2.38%	7.22%
40 Years	2.38%	7.22%
40 Years	2.38%	7.22%
30 Years	3.17%	9.50%
30 Years	3.17%	9.50%
30 Years	3.17%	9.50%
30 Years	3.17%	9.50%
25 Years	3.80%	11.29%
25 Years	3.80%	11.29%
13 Years	7.31%	20.58%
15 Years	6.33%	18.10%
20 Years	4.75%	13.91%
20 Years	4.75%	13.91%
20 Years	4.75%	13.91%
20 Years	4.75%	13.91%
12 Years	7.92%	22.09%
20 Years	4.75%	13.91%
15 Years	6.33%	18.10%
10 Years	9.50%	25.89%
9 Years	10.56%	28.31%
12 Years	7.92%	22.09%
15 Years	6.33%	18.10%

Nature of Assets	Useful Life	Rate [SLM]	Rate [WDV]
V Furniture and fittings [NESD] General furniture and fittings Furniture and fittings used in hotels, restaurants and boarding houses, schools, colleges and other education institutions, libraries, welfare centres, meeting halls, cinema houses, theatres and circuses and furniture and fittings let out on hire for used on occasion of marriages and similar functions	10 8	Years Years	9.50% 11.88%	25.89% 31.23%

VI Motor Vehicles [NESD] Motor cycles, scooters and other mopedsMotor buses, motor lorries, motor cars and motor taxies used in a business of running them on hireMotor buses, motor lorries, motor cars and motor taxies other than those used in a business of running them onMotor tractors, harvesting combines and heavy vehiclesElectrically operated vehicles including battery powered or fuel cell powered vehicles	10	Years	9.50%	25.89%
6	Years	15.83%	39.30%
8	Years	11.88%	31.23%
8	Years	11.88%	31.23%
8	Years	11.88%	31.23%

VII Ships [NESD] Ocean-going shipsBulk Carriers and liner vesselsCrude tankers, product carriers and easy chemical carriers with or without conventionalChemicals and Acid CarriersWith Stainless steel tanksWith other tanksLiquefied gas carriersConventional large passenger vessels which are used for cruise purpose alsoCoastal service ships of all categoriesOffshore supply and support vesselsCatamarans and other high speed passenger for ships or boatsDrill shipsHovercraftsFishing vessels with wooden hullDredgers, tugs, barges, survey launches and other similar ships used mainly for dredgingVessels ordinarily operating on inland watersSpeed boatsOther vessels	25	Years	3.80%	11.29%
20	Years	4.75%	13.91%
25	Years	3.80%	11.29%
20	Years	4.75%	13.91%
30	Years	3.17%	9.50%
30	Years	3.17%	9.50%
30	Years	3.17%	9.50%
20	Years	4.75%	13.91%
20	Years	4.75%	13.91%
25	Years	3.80%	11.29%
15	Years	6.33%	18.10%
10	Years	9.50%	25.89%
14	Years	6.79%	19.26%
13	Years	7.31%	20.58%
28	Years	3.39%	10.15%

Sachin Kumar Gupta 8010595999

Nature of Assets	Useful Life	Rate [SLM]	Rate [WDV]
VIII Aircrafts or Helicopters [NESD]	20	Years	4.75%	13.91%

IX	Railway siding, locomotives, rolling stocks, tramways and railway used by concerns, excluding railway	15	Years	6.33%	18.10%

X	Ropeway structures [NESD]	15	Years	6.33%	18.10%

XI	Office equipments [NESD]	5	Years	19.00%	45.07%

XII	Computers and data processing units [NESD] Servers and networksEnd user devices, such as, desktops, laptops, etc.	6 3	Years Years	15.83% 31.67%	39.30% 63.16%

XIII Laboratory equipment [NESD] General laboratory equipmentLaboratory equipments used in education institutions	10 5	Years Years	9.50% 19.00%	25.89% 45.07%

XIV Electrical Installations and Equipment [NESD]	10	Years	9.50%	25.89%

XV	Hydraulic woks, pipelines and sluices [NESD]	15	Years	6.33%	18.10%

Cost-Inflation-Index

SwatiPanchalCA — Fri, 16 Jul 2021 12:25:40 +0000

NOTIFIED COST INFLATION INDEX UNDER SECTION 48, EXPLANATION (V)
As per Notification No. So 3266(E) [No. 63/2019 (F.No. 370142/11/2019-TPL)], Dated 12-9-2019,
following table should be used for the Cost Inflation Index :-
Sl. No. Financial Year Cost Inflation Index

(1)	(2)	(3)
1	2001-02	100
2	2002-03	105
3	2003-04	109
4	2004-05	113
5	2005-06	117
6	2006-07	122
7	2007-08	129
8	2008-09	137
9	2009-10	148
10	2010-11	167
11	2011-12	184
12	2012-13	200
13	2013-14	220
14	2014-15	240
15	2015-16	254
16	2016-17	264
17	2017-18	272
18	2018-19	280
19	2019-20	289

Statutory auditor Certificate format -converted

SwatiPanchalCA — Fri, 16 Jul 2021 12:08:18 +0000

Procedure for Change of Name by NBFC

SwatiPanchalCA — Fri, 16 Jul 2021 11:58:17 +0000

Prior Permission from RBI for transfer of control or acquisition

SwatiPanchalCA — Fri, 16 Jul 2021 11:48:54 +0000

Permission of RBI in cases of acquisition

SwatiPanchalCA — Fri, 16 Jul 2021 08:54:32 +0000

Due Diligence Services

SwatiPanchalCA — Tue, 13 Jul 2021 07:37:20 +0000

Due diligence is an investigation or audit of a potential investment or product to confirm all facts, such as reviewing all financial records, plus anything else deemed material. It refers to the care a reasonable person should take before entering into an agreement or a financial transaction with another party. Due diligence can also refer to the investigation.

We provide various Due Diligence Services as follows.

Buyer due diligence
Vendor Due Diligence
Due Diligence as per Bankers Requirements
Tax Due Diligence

Register a NBFC in India and RBI Compliances

SwatiPanchalCA — Mon, 12 Jul 2021 13:30:37 +0000

We provide services for registration of Non-Banking Financials Company in India.
NBFC have to follow certain guidelines and directions issued by the relevant Regulatory Authority from time to time. These compliances can be in the form of Filing of Returns, submission of any documents, Fulfilling criteria for Deposits, etc.
Once the business is set up, various legal, regulatory, accounting and taxation regulations need to be followed. With the progressive changes and updates in the existing laws, monitoring the same and smooth functioning of business operations might become difficult. Our skilled team can provide you regular assistance and advisory services on such regulations and ensure that the records and business operations of your company is current and up-to-date.

Panchal S K & Associates