Bonus Depreciation 2024 Rules In India. Without this retroactive treatment, bonus depreciation would be 80% in 2023 and 60% in 2024. The payment of bonus act, 1965 provides for a minimum bonus of 8.33 percent of wages.

Starting in 2023, this benefit has decreased to 80% and will drop as follows over the next several years: Under the new proposed rules, if a taxpayer itself manufactures, constructs, or produces property for use in its trade or business or for its production of income, the additional first year depreciation deduction is allowed if the taxpayer begins manufacturing, constructing or producing the property after september 27, 2017, assuming all the oth.