Question

A company purchases machinery worth ₹10 lakh and puts it to use on 1st December. What will be the depreciation rate and amount for the year under the Income Tax Act?

A 15%, ₹1.5 lakh
B 7.5%, ₹0.75 lakh
C 10%, ₹1 lakh
D 15%, ₹0.5 lakh
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