Year Cost x MACRS % Depreciation 1998 $15,000 x 20. DB uses the following formulas to calculate depreciation for a period: Depreciation Rate = 1 - [ (Salvage / Cost) (1 / life)] Depreciation for any Period = (Original Cost - Total Depreciation from Prior Periods) * Depreciation Rate. Year: 2021 - 2022 Get Current Ready Reckoner Rate of district Pune minimum rate notified annunal by the Maharashtra State Government ASR for period 1/4/2021 upto 31/3/2022. 3. Mobile App For Gujarat Jantri Ready Reckoner. The old rules of 50% bonus depreciation still apply for qualified assets acquired before September 28, 2017. Bonus Depreciation: A bonus depreciation is a tax incentive that allows a business to immediately deduct a large percentage of the purchase price of eligible business assets. The Maharashtra government has increased ready reckoner (RR) rates in the range of 10 per cent and 40 per cent in Mumbai and rest of the state. The following calculator is for depreciation calculation in accounting. Once this number is calculated, multiply by 25%. First estimate the asset's salvage value which is the residual value of an asset at the end of its useful life. depreciation. This book has been authored by Dr Vinod K. Compare how different outcomes on each selection might affect your profits before placing your bet. You may be able to elect under Section 179 to recover all or part of the cost of qualifying property, up to a certain determinable dollar limit, in the taxable year you place the qualifying. 2023-24 (A. 273%, which comes out to $1,704. Asset Cost Salvage Value Life Of Asset (Depreciation Years) Asset Cost. The learned Single Judge allowed a depreciation of 60% in respect of the value of the Himgiri flat computed at the value in the ready reckoner and 30% in respect of the Deccan Chamber flat. 1 lakh and 80% depreciation is prescribed for the asset and you charge only rs. Certain start-up expenses immediately deductible When certain start-up expenses are immediately deductible under Section 40-880. Department of Registration & Stamps in Maharashtra Website. In Aurangabad the RR rates have. Completing Form 4562: Part IV and V. The Ready Reckoner (RR) rate, as it is referred to in Mumbai, is also known as the Circle Rate in Delhi. Showing CaptchaThe maximum section 179 deduction limitation for 2022. After this, you need to deduct the depreciation from the construction cost. Most companies will look no further than the Section 179 deduction. Now select the location of the property and then calculate the value of the property according to the ready reckoner rate using the below mentioned formula. The depreciation incurred per year comes out to $10 million. ouse invoice with eight multiplications. If you sold or traded in the F-150 after owning it for three years, it would be worth about. 80%. Y. potential. Hypothetically, if you purchased a residential property at a market price of Rs. S. Enter the OTP and click on Submit. Y. (Refer to the section above. The annualized interest costs on the general borrowings outstanding during the construction period is $660,000 ( (4% × $9,000,000) + (6% × $5,000,000)), which results in a weighted-average rate of 4. Depreciation Calculator. Using the straight-line method, depreciation is equal to the asset cost minus the salvage value, divided by the service life. This suggestion came across on a webinar that was. Notably, if this rate is higher. Balancing Charge u/s 41(2) and capital gain u/s 50A If the amount calculated under Step II is more than the amount of Step I, then tax treatment of such surplus is as follows: So much of the surplus. The said section, interalia, provides that the cost of long-term capital asset acquired before the 1st day of April, 2001 is taken to be the cost of acquisition to the assesse or the fair market value of the asset on that date, at the option of the assessee. After this, you need to deduct the depreciation from the construction cost. The IRS has four simple requirements to determine if you’re eligible to take advantage of depreciation as a tax deduction: (1) you own the property, (2) you use the property to generate income, such as renting it out as an Airbnb, (3) improvement to the property (like the actual house you are. These rates are influenced by factors such as property location, type, and market value. To use a home depreciation calculator correctly, you must first identify three fundamental indicators: the property’s basis, the duration of recovery, and the method in which you will depreciate the asset. December. 8. On Form 4562 Depreciation and Amortization, enter the following text for each method of depreciation: "S/L" - Straight Line. This means notional gains to. This means notional gains to. If you use your vehicle for 75% business use, the total you can claim under temporary full expensing is 75% of $64,741, which equals $48,556. Without taking any other property tax or mortgage interest deductions into account, you've already reduced your taxable rental income by $8,909 annually. Using of e-stamp duty ready reckoner year wise which we have provided for the year 2015-16, 2016-17, 2017-18, 2018-19, 2019-20, 2020-21, and current year 2021-22 from which you can search current and previous year ready reckoner rates applicable for calculation of government tax such as stamp duty, registration fee along with guideline for. However, it is important to confirm that Capex and depreciation have the correct impact on PP&E. R. Effective October 1, 2023,Karnataka has seen an increase in the guidance value up to 50%. There was a marginal increase of 1. Just insert a few details of the asset and it automatically calculates annual depreciation, depreciation percentage. to postpone any change in ready reckoner rates. Using the 200% declining rate, you get to a 40% depreciation rate (200 /. At present, its land value is Rs. Even if the buyer and seller were to go ahead with the transaction at the market rate, on paper the transaction must be recorded at the circle rate (Rs 100 crore). 30,000 as depreciation, in this case next year wdv will be. 0. Area acquired/purchased over and above the entitled area should be valued as per the ready reckoner as per the use of the premises (Flat / Office / Shop / Industrial Unit etc. Year: 2021 - 2022 Get Current Ready Reckoner Rate of district Mumbai minimum rate notified annunal by the Maharashtra State Government ASR for period 1/4/2021 upto. This book has been authored by Dr Vinod K. S No. Separate the cost of land and buildings. There is a special rule for property that was used for personal purposes before converting it to a rental property. The industry is trending toward franchises, and since Subway is a franchise, the transition to a new owner is less risky. Rate of Depreciation. Ready Reckoner Rate. The formula to calculate the depreciable cost is as follows. The period represents the accounting period or the year for which the depreciation is being computed. 10% if after 1-oct Half rate of depreciation if added after 1-october in PY Additional depreciation Popular depreciation rates 䍁⁈䅒午䥌⁓䡅呈 偡来′映㌵ The Ready Reckoner rate (RRR) or circle rate is a standard rate fixed by the State government for property transactions. For the purpose of this Schedule, the term depreciation includes amortisation. 704, Depreciation. The mechanism involves an asset such as a building which is depreciated every year. 2022 - 23. Now, navigate to the 'Online Services' section. However, the irony is that only around 3% of the population actually pays tax. 25%. These rates are lower than the market rates in most areas and localities in Karnataka. Year 5: £614 – £123 = £492. For example, the area of a property is 600 sqm and. The maximum section 179 deduction limitation for 2022. Year: 2022 - 2023 Get Current Ready Reckoner Rate of district Mumbai Suburban minimum rate notified annunal by the Maharashtra State Government ASR for. 46, 640 and for commercial properties is Rs. a) Independent land with industrial building = Land Value + depreciated construction cost of building. This tool has two parts, which are the Straight Line Depreciation method which is the simplest way of calculating loss of value, and also the Depreciating Balance Depreciationmethod which assumes that the value of a depreciating asset decreases. the ready reckoner which is prepared for the purposes of stamp duty. e. No Adjustment of Losses brought forward from earlier years and/or Additional Depreciation of earlier years is permitted. Depreciation = $36,000 / 6 = $6,000 per year. Building. . Now suppose you found a renter on date May 15, 2023. For tax purposes. Without prejudice to the foregoing provisions of paragraph 1,-. Ready reckoner rate: Meaning and significance. Depreciated building rate = Rs. If you had received the property as a gift, or as an inheritance, or had constructed it during any year after April 1, 2001, then, you can take the ready reckoner value to find out the fair market value of. Click once in each of the "Total" boxes to calculate a result for that section. Singhania | DT Reckoner. covered parking slots x 25% ready reckoner rate per unit area for that property. Key Takeaways. R. 2023-24 (A. The underlying purpose of this standard is to lay down or specify accounting treatment for Property, Plant and Equipment. Hi all Does anybody on the forum have a ready reckoner or just a general rule of thumb for dollar amounts when doing initial calculations for depreciation on general fittings and a low value pool on a target property ? say for a. . Go to selected bank and make the payment across the bank counter submit the Challan with payment and receive the copy of the Challan on next working day. Required: Calculate the truck's depreciation for 2016, 2017, and 2018. Garg’s Income Tax Ready Reckoner Assessment Year 2023-2024 & 2024-2025. Stamp Duty Ready Reckoner Rate Mumbai 2021. Residential buildings except hotels and boarding houses. Home. Depreciation is charged in a fair proportion of the depreciable amount in every accounting period during the expected useful life of the asset. Enter the smaller of line 1 or line 2 here. For example, if a rental property with a cost basis of $100,000 was first placed in service in June, the depreciation for the year would be $1,970: $100,000 cost basis x 1. 2023-24 (A. S ay Tim purchased a home for $300,000 and sold it 20 years later for $500,000. Depreciation on Straight Line Method (SLM) is not allowed. The REIQ Ready Reckoner typically includes the following information: 1. Similarly, the floor rise premium on apartments in Pune for higher floors is: 11 th to 20 th floor – 10%. Note:- 1] While determining the value of the old tenanted buildings in Mumbai City and suburbs as well as the. December 20, 2022 Author: Team Piramal Realty When one buys a new home, there are many factors based on which one finalizes the purchase. Income Tax Calculator For A. If there is no way to estimate a useful life, then do not depreciate the cost of the improvements. 2024-25 With Income Tax Ready Reckoner For F. 10 lakhs and has a useful life of five years, the annual depreciation using the prime cost method will be 20% of Rs. 20232024 20222023 20212022 20202021 20192020 20182019 20172018 20162017 20152016 2014. . Asset Class. = Rs 16. Total Estimated Value: $183,561 = ($213,561 Estimated Business Value) – ($30,000 Liabilities) Subway’s business-specific multiplier well exceeds the industry average multiplier of 1. Depreciation for the first and last. C = Cost or written down value of an asset. 4: Stamp Duty Calculator: SD Calculator:. The Maharashtra government has increased ready reckoner (RR) rates in the range of 10 per cent and 40 per cent in Mumbai and rest of the state. 8% from April 1, 2022. Of course, we would advise you to get in touch with our quantity surveyors for a detailed. That amount depreciated over 27. Ready reckoner rates play a vital role in determining stamp duty and registration charges in Maharashtra. In Haryana, Punjab and Uttar Pradesh, circle rates are also known as collector rates or district collector rates. All state governments release area-wise quick reckoner rates of properties on a yearly manner to avoid stamp duty fraud via loss in value of agreements and to reduce disagreements concerning. 5. Double declining balance depreciation is a common accelerated method—most useful for assets with a higher productivity earlier in its useful life, like a vehicle. 00. 00. Under the modified accelerated cost recovery system (MACRS) general depreciation system (GDS), domestic rental property depreciation is calculated using 27. The depreciable amount of an asset is the charge of an asset or other measure substituted for charges, less its. Business Cost & Sales. As per Para 5. 5: Public Data Entry for Registration: PDE: 3. 2,00,00,000. Completed Age of building in Years R. India is the second-largest in the world in terms of population. n a table of numbers used to facilitate simple calculations, esp one for applying rates of discount, interest, charging, etc, to different sums Collins. 5 lakh. In Maharashtra, circle rates are known as ready reckoner rates. borivali. The depreciation calculator uses three different methods to estimate how fast the value of an asset decreases over time. Details View Jantri; 1: મહેસુલ વિભાગના ઠરાવ ક્રમાંક એસપીટી-૧૨૨૦૨૩-૨૦- હ -૧. Years from Now. Let’s understand ROCE with another example. Enter the required details and you will get the Valuation immediately. Practical and comprehensive Guide and Depreciation fare as per Companies Act 2013 calculated using useful life as per Schedule-II and residual value of 5%. The Department of Stamps and Registration of the Andhra Pradesh government published a Guiding Value or Ready Reckoner Rate for non-agricultural land, the minimum at which the same can be registered with the government. You can use it to compare three models — the straight line depreciation, the declining balance depreciation, and the sum of years digits depreciation — to decide which one suits you best. 0 3 6 9 12 $0 $9,500 $19,000 $37,500. blackcurrant. 2. So much so that 60% of small business owners say they don’t feel knowledgeable about accounting or. 2023-24 & 2024-25 – Illustrative Ready Referencer on Income-tax with Focused Analysis | Break-even Tables for Alternative Tax Regime | 47th Edition book online at best prices in India on Amazon. Step 4: Repeat Steps 2 and 3 for as many years as you can depreciate the asset. The asset's cost includes all costs necessary to get the asset in place and ready for use. . kurla. covered parking slots x 25% ready reckoner rate per unit area for that property. Sensible and comprehensive Guide and Depreciation rates as per Companies Act 2013 calculated using useful life more on Schedule-II both residual value of 5%. Y. Divide by 12 to tell you the monthly depreciation for the asset. Property is placed in service when it is ready and available for use in your business even if you have not begun using it. Visit and enter the mobile number to get the OTP. Straight-line Depreciation = Cost of Asset / Useful life. I sujest other people use this app very good very easy to work esay statment ready work is very easy than use this software any products. Pukka Structure/otherSetoff and carry forward of unabsorbed Depreciation - Section 32(2) - Income Tax - Ready Reckoner - Income Tax x x x x x Extracts x x x x x Section 72AB - Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in business reorganisation of co-operative banks - Income-tax Act, 1961Asset Depreciation Calculator. This depreciation calculator will help you calculate the loss of value of an asset over a set period of time. Apart from knowing the ready reckoner rate in Pune, there are several other taxes and administration fees that one needs to pay before finalizing the buying or selling of the property. The state had kept the ready reckoner rates unchanged for the financial year 2021-22 owing to the pandemic. Your rates will be calculated using a Small. To calculate circle rate in Delhi, you can go to the official e-Circle Rate. The assessment year is when you file your tax returns declaring the income earned during the previous year. the equal allocation of the capital expenditure across its useful life), the depreciation expense is equal to the depreciable cost multiplied by the depreciation rate (%). If you are using the double declining balance method, just select declining balance and set the depreciation factor to be 2. Noise exposure calculator. According to the formula, the depreciation value of the property is 15/30 which is 1/2. Depreciation - Section 32 - Income Tax - Ready Reckoner - Income Tax. This article provides a comprehensive compilation of Gold and Silver rates, specifically focusing on the rates as of April 1, 1981, and the rates for each 31st March from the year 2009 to 2023. It aims to showcase the price trends and variations in Gold and Silver prices over the years, giving readers valuable insights. Ready reckoner rates In Mumbai remained unchanged for the year 2022- 2023, they were last hiked on September 12, 2020, by the government of Maharashtra, the revised rate for Mumbai is -0. Value after 2nd year: $24,074 x 0. That year's depreciation deduction will be $192 ($600 × 32% (0. Year 2: £1200 – £240 = £960. 32)) for the stove and $320 ($1,000 × 32% (0. In Pune, as of May 2023, ready reckoner rates for residential properties vary across different areas. NEW DEPRECIATION RATE ON FIXED ASSETS AS PER INCOME TAX ACT DOWNLOAD PDF OR WORD FORMATE. It takes the straight line, declining balance, or sum of the year' digits method. New Construction Cost [Table-“B”] given with Annual Valuation Table (Ready Reckoner) for the Year 2014 will be discussed with Public Works Department and a final decision will be taken, till such time Construction Cost of new building given with Annual Valuation Table (Ready Reckoner) for the Year 2013 should to be used. A subtracts line 21 from line 20 and enters $0 on line 22. 2023-24 & 2024-25 – Illustrative Ready Referencer on Income-tax with. 6%. 37% of income tax where total income exceeds Rs. 2023-24 (A. Repeat the first two steps. Cumulative depreciation for tax purposes is Rs 90 and the tax rate is 25%. for iPhone, iPad and Android phone or tablets for use anytime, anywhere the BMT Tax Depreciation Calculator is an indispensable tool for anyone involved in property investing. Year 3: $4,900 x 30 percent = $1,470. 3 THE PAYMENT OF BONUS ACT, 1965 (21 of 1965) 1 [25 th September, 1965] 2[An Act to provide for the payment of bonus to persons employed in certain establishments on the basis of profits or on the basis of production or productivity and for. 33 lakh. The ready. If your ordinary income tax level is 20%, then you simply multiply the total depreciation amount ($55,000) by 20%. You’ll also see the total cost of the lease. 14 Lakhs - Rs 2. If you use the "actual" expenses method and the vehicle was acquired new in 2023, the maximum first-year depreciation deduction, including bonus depreciation, for an auto in 2023 is $20,200. The depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value. Enter the amount from Form 6251, line 36, on line 4 of the worksheet. Master’s Degree Programme in Public Finance at the National Graduate Institute of Policy Studies (GRIPS) in Tokyo, Japan (2024-25) -reg Letter Annexure-I. Calculate depreciation for assets using a variety of methods, including straight-line, declining balance, and sum-of-years' digits. Bharat's Guide to Depreciation 2016. A subtracts line 23 from line 19 and enters the deferred gain on the. The calculation would look like this: $325,000 less $80,000 equals $245,000 building value. Updates include increased section 179 expense deduction limit, adjusted luxury vehicle and truck limitations, updated tax worksheets, and other depreciation changes to support tax reform. 36: $100,000 x 3. The instant asset write-off is limited to the business portion of the car limit for the relevant income tax year. For old buildings, the stamp duty laws allow for deduction from the rates stated in the ready reckoner. The registrar value of independent houses and plots is different from the value of apartments and flats. Developers anticipated a decrease in the ready reckoner rates at IGR Maharashtra as a result of the rise in property registrations. For that year, your depreciation deduction is $120 ($600 × 20% (0. $48,000. Rather than take a single, large tax deduction in the year you bought the property, you would take a portion of the cost of the. Enter the amount from line 1 here and on Form 4562, line 2. I. 7: Online Payment of Stamp Duty & Registration Fees: SD. This date determines when you can begin to depreciate the asset. Schedule II (See section 123) USEFUL LIVES IN CALCULATE DEPRECIATION PART ‘A’ Depreciations is the systematic allocation of the depreciable amount by an asset over its useful life. Note that if you have a property with a rateable value of below £20,000 (£28,000 in Greater London), then you are considered as a small business. He opined that this would give a massive boost to the sector. Create and print schedules. to proclaim. Singhania, with the following noteworthy features: Property market value: Ready reckoner rate is based on the market value of the property. Income Tax Act of 1961 allows the depreciation of tangible assets and intangible assets. The annual and monthly depreciation expenses for the vehicle using the straight-line depreciation method would be: ($260,000 – $20,000) / 8 = $30,000 $30,000 / 12 months = $2,500 per monthThe useful life of an asset will who period over which the plus is expected to be ready for use by an entered, or the counter of production or similar single expecting till be obtained from the asset by aforementioned entity. Determine the asset's purchase price. Year 4: $3,430 x 30 percent = $1,029. If land is being prepared for its intended purpose, then include these costs in the cost of the. Which helps to calculate the true market value of immovable property, i. 2024-25 With Income Tax Ready Reckoner For F. In the example above, your depreciation on an auto would be limited to the business-use percentage of 90% times the maximum 2023 first-year. perquisites by dr girish ahuja 2023-05-01 6/6 perquisites by dr girish ahujaIncome Tax - Income Tax Calculator For A. CAs, experts and businesses can get GST ready with Clear GST. That leaves you with an adjusted cost basis for depreciation of $212,800 for your first calendar year of ownership. Y. For subsequent years the base value will reduce based on the difference between the current year and the next year. Ready reckoner rates are listed for all the cities and are available on the online portal of the government of Maharashtra. This naturally refers to the. Buy online Garg's Income Tax Ready Reckoner for Assessment Year 2023-2024 & 2024-2025 only on Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life. Spread the love Diminishing Value Depreciation Calculator Diminishing Value Depreciation Calculator Initial Cost of Asset: Salvage Value: Useful Life (in years): Calculate Depreciation Depreciation Amount: FAQs GEGCalculatorsGEG Calculators is a comprehensive online platform that offers a wide range of calculators to cater to various. Return to top. Note: A resident individual is entitled for rebate under section 87A if his total income does not exceed Rs. Registration charges payable: 1 percent of Rs 50 lakh = Rs 50,000. Calculate the accumulated depreciation: This is the total amount of depreciation that has been recorded for the asset over its useful life. 5,00,000 * (1/2) = Rs. The property’s built-up area (sq. Now select the location of the property and then calculate the value of the property according to the ready reckoner rate using the below mentioned formula. in - Buy Taxmann's Direct Taxes Ready Reckoner (DTRR) | A. Recent sales: The Ready Reckoner provides information about recent sales in the area, including the sale price, date of sale, and other relevant details. Ready Reckoner Guidelines-Mumbai 2016-17. FOOD SERVE SIZE CARBOHYDRATE (G) PROTEIN (G) FAT (G) FIBRE (G) ENERGY (KJ) CARBOHYDRATE Cereals & breads 1/2C pasta 1/3C rice 1 slice bread / wrapThe Washington Brown, a property depreciation calculator, is unique because it enables property investors to estimate the depreciation by simply inputting a purchase price. If stamp duty is 5 percent and the circle rate/RR rate of the property is Rs 50 lakh, then the stamp duty payable is Rs 2. That’s because, in the eyes of the IRS, it’s now as if you. For example, the car limit is $64,741 for the 2022–23 income tax year. You can't amend a return that hasn't been filed yet. 1982). 1. With the application of the half-year convention, the depreciation for the first and final year is ($6,000 / 2) = $3000. 2023-24 and 2024-25 have been compiled with utmost care enabling the assesses to correctly. When a primary residence is converted into a rental property, the owner can deduct the depreciation expense from the income the property generates to reduce taxable income. Depreciable Cost = Purchase Cost – Salvage Value. 3. The guideline value is determined based on the property type and location. Depreciation: depreciable amount IN11 An entity is required to measure the residual value of an item of property, plant and equipment as the amount it estimates it would receive currently for the asset if the asset were already of the age and in the condition expected at the end of its useful life. Y. ProSeries Fixed asset manager includes: Unlimited asset tracking and automatic depreciation calculation. The total useful life of the property is 30 years. $245,000 divided by 27. [As amended by Finance Act, 2023] Net Income Range Rate of Income-tax Assessment Year 2024-25 Assessment Year 2023-24 Up to Rs. The depreciation recapture amount from the sale of real estate property can depend on several factors. As per the IRS, depreciation can be understood as recovering the cost spent to acquire an asset until it is recovered. Y. Ready reckoner definition: . 6. Calculation of Valuation of the above property will as follows: A. Straight-line or declining balance methods may be used to calculate annual depreciation expenses. Annual Statement Rate (ASR) are commonly known as Ready Reckoner are the fare rates of immovable property, on the basis of which market value is calculated and whereas. The number of open car parking slots x 40% of the ready reckoner rate of developed land in the area. You can do calculations for Residential Flat, Bungalow / Duplex / Row House, Commercial Office, Shop and Industrial Unit on the click of your mouse or even on your mobile. 2021 - 22. This is a simple linear form of depreciation. Learn more about Depreciation and Causes of Depreciation here in detail. Section 32 of the Income Tax Act 1961 talks about depreciation. 74% in ready reckoner. The original value of your asset or the depreciable cost; the necessary amount expended to get an asset ready for its intended use. See how much your asset will be worth using the straight line depreciation formula. Rental property depreciation is a basic accounting principle that allows you to deduct the cost of a rental property over a set period of time. ], published 1839, →OCLC: Nor did he trouble his. First, make sure you really need to amend and that your 2020 return was accepted in TurboTax Online or paper-filed through the mail. This rate is called ‘market value of. + $800 “make ready” costs = $275,300 adjusted cost basis. At present, its land value is Rs. Year. See Regulations section 1. However, these estimates are not endorsed by the Australian Taxation Office and uses general assumptions. ft, and the circle rate in that area is Rs. 3. ROCE = 150 / 800 = 0. 5 Cr. Annual Statement of Rates. 5,00,000 - - Rs. The total useful life of the property is 30 years. The new rules allow for 100% bonus "expensing" of assets that are new or used through 2022. These are. Enter the amount from line 3 here and on Form 4562, line 1. Extend 200 stock sheet entries 29 mins. Accounting Standard 10 deals with Property, Plant and Equipment (PPE). Y. Statutes. revaluation. Depreciation calculation methods, described in R&TC Section 24349, are as follows: Straight-Line. Rates has been changed for financial year 2017-18 and onwards. Depreciation is allowable as expense in Income Tax Act, 1961 on basis of block of assets on Written Down Value (WDV) method. mulshi. Enter the relevant values for your Assets and Liabilities. 46, 640 and for commercial properties is Rs. However, on September 12, 2020, the state government announced a 1. The. Depreciation is charged in a fair proportion of the depreciable amount in every accounting period during the expected useful life of the asset. If you are looking to get out of property maintenance, we have recommendations for DST and. Ready Reckoner Rates for the above property: Residential – 78,630/- per Square Metre. 2023. Y. 6,000 per sq. Except in Mumbai, the ready reckoner rates of all municipal corporations is increased by 8. Property market value: Ready reckoner rate is based on the market value of the property.