Accelerated depreciation benefit is allowable under. Section 37 of the Income Tax Act claims 40% in the first year. 40% in the second year and 20% in 3rd year. Accelerated Depreciation is given for the Solar PV plant. This is given by the income tax department to all commercial and industrial users. With this benefit, all commercial and industrial users who have installed solar power plants can claim tax benefits for the first three years to recover the initial capital cost.
