Question

Under the Income Tax Act, which of the following correctly applies to depreciation under Section 32 for a business asset used in manufacturing?

A 10% depreciation on land and building used in business
B 15% depreciation on plant and machinery under written down value method
C Goodwill is eligible for depreciation under intangible assets
D Depreciation is allowed only under straight line method
E Intangible assets depreciated at 10% on WDV basis
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