Lawyer Anil Harish, a real estate specalist, said, “The new method of calculation increases the ready reckoner value of a property by 30% because the. Maharashtra's ready reckoner rates for 2022 Before you go out and purchase a house, we advise. These are the minimum rates below which a property transaction cannot take place. We have created a simple and easy Straight-Line Depreciation Calculator with predefined formulas and functions. So, you can find out the fair market value from the stamp duty ready reckoner of 2001, if the property was acquired prior to April 1, 2019. Overview. 9 Airbnb Tax Deductions to Write Off 1. Add that to your $170,000 for a building cost basis of $180,000. 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. The basis to be used for depreciation is $24,000. x) No adjustment for depreciated. b. For flats and apartments, rates range from Rs 34,050 to Rs 1,47,730 per square meter, with locations like Erandwane, Ganesh Peth, and Shaniwar Peth at the higher end. %PDF-1. Here are the MACRS depreciation calculations that underlie our Excel calculator: 1st Year Depreciation = Cost x (1 / Useful Life) x Depreciation Method x Depreciation Convention. At present, its land value is Rs. Select Taluka. Simply select Taluka to get the ready reckoner rates of division or villages wise. Stamp Duty Ready Reckoner Rate Mumbai 2021. Ys. The ready reckoner rate in Pune for the dhanori area residential flats is Rs. READY RECKONER 1st edition BY CA HARSHIL SHETH A complete ready reckoner covering Income Tax heads & other important topics in Chart/tabular format 2021. Note:- 1] While determining the value of the old tenanted buildings in Mumbai City and suburbs as well as the. Enter the smaller of line 1 or line 2 here. This is published every two years for agricultural land, as said earlier. Y. Y. Enter the OTP and click on Submit. For the purpose of this Schedule, the term depreciation includes amortisation. Step 1: Go to the official website of the Department of Registration & Stamps Maharashtra. In this book Tables of Income Tax Rates and Ready Reckoner for A. 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 monthIn theory, cash flow isn’t too complicated—it’s a reflection of how money moves into and out of your business. In each of the following years, the depreciation expense would be $3,636. Total Depreciation Claimed over 10 Years: $55,000. Garg’s Income Tax Ready Reckoner Assessment Year 2023-2024 & 2024-2025. Enter the relevant values for your Assets and Liabilities. CAs, experts and businesses can get GST ready with Clear GST. In Pune, as of May 2023, ready reckoner rates for residential properties vary across different areas. c = cost of an asset. x x x x x Extracts x x x x x. The following calculator is for depreciation calculation in accounting. 95. Calculation of Valuation of the above property will as follows: A. ) and value arrived as per 2(a) and (b) should be added to arrive at market value for stamp duty purposes. 21st to 30th floor. 1838 March – 1839 October, Charles Dickens, chapter 1, in The Life and Adventures of Nicholas Nickleby, London: Chapman and Hall, [. A quick review (Limited Information) of the applicable provisions under the Income Tax Act, 1961 for the F. Section 32 of the Income Tax Act 1961 talks about depreciation. 5 years equals $8,909 a year in depreciation. 33%. Continue reading. Depreciation is also. depreciation. The depreciable amount of an plus the the cost starting in total oder other amount substituted for cost, less its residual set. The unique calculator helps to calculate stamp duty, registration fee, rebate for female buyers, local body tax (LBT), ready possession, under-construction properties with Good Service Tax (GST), or on Under Construction properties, Affordable Housing Schemes, and Tax. As per Part A. Using the straight-line method, depreciation is equal to the asset cost minus the salvage value, divided by the service life. . 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. Building. 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. For Year 2,. %PDF-1. is. The calculation of depreciation involves the following: The asset's cost. For Year 2, the depreciation percentage is 32%. f. Rates of Depreciation - Income Tax - Ready Reckoner - Income Tax. Income Tax. Department of Registration & Stamps in Maharashtra Website. e. Why do circle rates vary within a city?R = {1 – (S/C) ^1/n} x 100. As described above, the depreciation start date is based on asset value date and period control method in Depreciation key (assigned to depreciation area). This book has been authored by Dr Vinod K. Nov 15, 2023. So, after five years, that new car has lost all its new car smell and around 60% of its value. Depreciation methods are defined in R&TC Sections 24349 through 24354. 2022 - 23. Institute of Chartered Accountants of Indiadepreciation amount in the earlier periods and a lower amount in the later periods. Depreciation is an annual income tax deduction that allows you to. December. Recent sales: The Ready Reckoner provides information about recent sales in the area, including the sale price, date of sale, and other relevant details. 2,50,000. Showing CaptchaThe maximum section 179 deduction limitation for 2022. Maximum threshold cost of section 179 property before reduction in limitation calculation. Y. You’ll also see the total cost of the lease. 99acres. The useful life of an. . However, these estimates are not endorsed by the Australian Taxation Office and uses general assumptions. There is no capital gain on transfer of assets. | Meaning, pronunciation, translations and. Property is placed in service when it is ready and available for use in your business even if you have not begun using it. Section 32 of the Income Tax Act and Rule 5 of the Income Tax Rules deal with the tax benefits on the depreciation of assets. 21 st to 30 th floor – 15%. These are. Depreciation is allowable as expense in Income Tax Act, 1961 on basis of block of assets on Written Down Value (WDV) method. 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. R. cherry. The results of the estimates provided may differ from the final depreciation entitlements. 07. 5 years, that comes to $6,545 in annual depreciation, and you can deduct a prorated amount of $3,546 in the first year. 4. As reported by the AAA, the average annual cost of owning and driving a vehicle in 2018 was $8,849 -- 40% of which ($3,540) they attributed to depreciation. Sr. . 20 lakh. dated 7th July, 2016 – Procedure and Checklist for Site Inspection before the grant of Building Permission and Occupancy Certificate in Maharashtra. Suppose company DEF Ltd. CAs, experts and businesses can get GST ready with. Depreciation is also determined by your tax bracket, so let’s say you’re in the 15% bracket. Ready reckoner definition: . 25% of income tax where total income exceeds Rs. Language. This browse probes into Schedule II from the Act, focusing on the computation of useful lives since various graspable assets and the guidelines governing depreciation. 3: Conduct Property Valuation (MUMBAI) Know more about the process eValuation: 3. Call our expert team today on 1300 728 726 or complete the form below. 8. Rate of Depreciation. If you choose online payment option, make payment electronically through Internet Banking or by Debit. Suppose an individual buys a property for $2 million and takes $500,000 in deductions over 10 years. See Regulations section 1. That year's depreciation deduction will be $192 ($600 × 32% (0. Rental Property Original Purchase Price: $200,000. Year 4: $3,430 x 30 percent = $1,029. Buying farmland requires a lot of capital and so its very important that a person expects to get a reasonable rate of return from their investment. Repeat the first two steps. After this, you need to deduct the depreciation from the construction cost. The property value is calculated using the following formula: Property value = ready reckoner rate in per sq m X built-up area in sq m We have included ready reckoner page featuring all-important calculations of stamp duty, various modes of payment of stamp duty and registration such as franking, e-stamping procedures, online mode and the offline option of payment through banks. The cost of the car for depreciation is limited to the car limit at that time ($59,136 for the 2020–21 income tax year). The program automatically switches to the straight-line method in the first year that it gives a larger deduction. 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. Ready reckoner rate Pune also varies across different types of property. 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. 2001 o Tax savings schemes at a glance o Rates of depreciation Under the Income-tax Act § For the assessment years 2006-07 onwards § For power generating units from the assessment year 1998-99 § Under the Companies Act,. 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. I’ve created a “ready reckoner” to help estimate the potential depreciation on the construction of an investment property of 1 /1 Match case Limit results 1 per pageTAXATION READY RECKONER Sunday, 30 November 2014. C. 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. Depreciation rate is the percentage decline in the asset's value; Example: Calculating Depreciation Under Reducing Balance Method. C. Y. You can also adjust price-points and recompute the needed sales volumes at different prices. Simply enter your fixed business costs, your variable unit costs and your sales price to estimate the number of units you would need to sell to break even. 10%. The depreciation estimates provided are a general guide to allow you to estimate the potential depreciation you may be entitled to claim on a property. This led to an increase in property registrations, and developers were hopeful that IGR Maharashtra’s ready reckoner rates could fall. Say you buy a building to use as a rental. English Marathi. This method is more complicated than straight-line, but also more accurate. S No. Add column of 150 entries 152 secs 118 secs. Bonus Depreciation: Bonus depreciation has been changed for qualified assets acquired and placed in service after September 27, 2017. Depreciation refers to a decline in the valuation of an asset over time due to obsolescence or wear and tear. Year 3: $4,900 x 30 percent = $1,470. A company cannot take a Section 179 deduction on more than their total annual taxable income. property built-up area x ready reckoner rate for flats in Rs per sq m. 20)) for the refrigerator. 5 years for residential rental properties and. If that is the case, the basis for depreciation is the lesser of either its. Completing Form 4562: Part IV and V. That’s why it’s a good idea to complete Part V. Unchanged ready reckoner rates to revive real estate in Mumbai. In this book Tables of Income Tax Rates and Ready Reckoner for A. Certain start-up expenses immediately deductible When certain start-up expenses are immediately deductible under Section 40-880. 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. 2021. Request a commercial tax depreciation schedule quote for your property or fit-out. system calculated the ODep Start date as mentioned above. Get to know the definition of Depreciation, what it is, the advantages, and the latest trends here. 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. Here’s how the insurance company may calculate the laptop’s depreciation and actual cash value on your claim: Annual depreciation = $2,000 (replacement cost) / 5 years (lifespan) = $400. 75. revaluation. Practical and vast Leader the Depreciation rates as per Companies Trade 2013 premeditated using use lives the per Schedule-II and residual value in 5%. READY RECKONER definition: a table of numbers used to facilitate simple calculations , esp one for applying rates of. ASR (Ready Reckoner) Guidelines- Rest of Maharashtra-2015. to proclaim. The depreciation expense is scheduled over the number of years corresponding to the useful life of the respective asset. Depreciable Cost = Purchase Cost – Salvage Value. सातारा सांगली सोलापूर कोल्हापूर पुणे. Property market value: Ready reckoner rate is based on the market value of the property. covered parking slots x 25% ready reckoner rate per unit area for that property. Suppose an asset costs $100, its estimated salvage value is $10, and its estimated useful life is 10 years: depreciation = $100 – $10 10. While the table seems complicated, most assets are either five-year or seven-year property. The book starts with a detailed section wise analysis of the amendments made by the Finance Act, 2023. This naturally refers to the. The following depreciation methods are available in the program: 200DB - The 200% declining balance method. Shown below is the double-declining-balance method using an assetDeductible annual depreciation: $2 million / 39 years = $51,282. Depreciation is the systematic allocation of the depreciable amount of an advantage across its useful life. Articles. Residential buildings except hotels and boarding houses. 1/6. There are 2 blocks namely, Plant and Machinery: Depreciation Rate 15%. These requirements play a vital role in the Commission’s strategy of setting just and reasonable cost-of-service rates. For old buildings, the stamp duty laws allow for deduction from the rates stated in the ready reckoner. Standard mileage rate. It takes the straight line, declining balance, or sum of the year' digits method. 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. List of best Asset Reckoner alternatives and competitors of 2023. Meanwhile, the RR rates are. generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing. 71% ($660,000/$14,000,000). A ready reckoner rate is the minimum value below which you cannot purchase a property. Ys. Note: A resident individual is entitled for rebate under section 87A if his total income does not exceed Rs. Use this calculator to calculate an accelerated depreciation using the sum of years digits method. Mobile App For Gujarat Jantri Ready Reckoner. 3. Calculator for depreciation at a declining balance factor of 2 (200% of straight line). ft; then you would have to pay the registry fee and stamp duty on the higher value (market value) to avert double taxation. 2022 - 23. The results of the estimates provided may differ from the final depreciation entitlements. Depreciation Calculator. Y. After this, you need to deduct the depreciation from the construction cost. The fixed-declining balance method computes depreciation at a fixed rate. 4: Stamp Duty Calculator: SD Calculator: 3. 2001 o Tax savings schemes at a glance o Rates of depreciation § Under the Income-tax Act (i) For the assessment years 2006-07 onwards (ii) For power generating units from the assessment year 1998-99 § Under the Companies Act,. As stated previously, to capitalize is to record a long-term asset on the balance sheet and expense its allocated costs on the income statement over the asset’s economic life. Property is placed in service when it is ready and available for use in your business even if you have not begun using it. Health and Education cess: – 4% of income tax and surcharge. This rate is called ‘market value of. | Meaning, pronunciation, translations and examples in American English. Skip lines 2 and 3 of the worksheet. Check Ready Reckoner Rates: Know More: 3. Ready Reckoner Rate is the minimum value of the property that is fixed by the state government. The depreciation schedule for the lathe machine is as follows: Year 1 = $3,000. Schedule II (See section 123) USEFUL LIVES TO COMPUTE DEPRECIATION PART ‘A’ Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. 115BAC. Ready Reckoners 27. † If you claim bonus depreciation under federal law, you must add back the difference between the bonus depreciation taken and the depreciation that would have been allowed without bonus depreciation. Determine the asset's purchase price. Depreciation: depreciation periodThe depreciation estimates provided are a general guide to allow you to estimate the potential depreciation you may be entitled to claim on a property. They are expected to adversely hit the realty sector in Mumbai and rest of the state. Ready Reckoner Rate. S ay Tim purchased a home for $300,000 and sold it 20 years later for $500,000. The old rules of 50% bonus depreciation still apply for qualified assets acquired before September 28, 2017. Now, navigate to the 'Online Services' section. BMT has completed more than 800,000 property depreciation schedules, helping Australian commercial building owners and tenants save thousands of dollars every year. Schedule II (See section 123) USEFUL LIVES TO COMPUTER DEPRECIATION PART ‘A’ Depreciation is the systematic allocation of of depreciable amount of an facility over its useful lives. (Land plus. You’ll learn about the requirements and rules for an exchange. Residential (per sq. Y. Simply select Taluka to get the ready reckoner rates of division or villages wise. Section 179 deductions may allow immediate expensing up to certain limits. The election applies to all property within the. Compare how different outcomes on each selection might affect your profits before placing your bet. blackcurrant. R. The ready reckoner page also details essential technical formalities involved during the. Stamp Duty Ready Reckoner. 2024-2025) A quick review (Limited Information). For 2022, the standard mileage rate for the cost of operating your car, van, pickup, or panel truck between January 1, 2022, to June 30, 2022, is 58. CAs, experts and businesses can get GST ready with Clear GST. 636% = $3,636. Accounting Standard 10 deals with Property, Plant and Equipment (PPE). 44 Lakhs. Straight-line or declining balance methods may be used to calculate annual depreciation expenses. The rate remains constant and is applied to the reducing book value each year. If you are using the double declining balance method, just select declining balance and set the depreciation factor to be 2. D. The four most widely used depreciation formulae’s are as listed below: 1. For 3-, 5-, 7-, or 10-year property eligible for the 200% Declining Balance method, you may make an irrevocable election to use the 150% Declining Balance method. 33 lakh. Depreciation is defined as a reduction in the value of the asset due to wear and tear of the asset. If Accounting Policies, Accounting Standards or Rates or Method of Depreciation are Different - According to the first proviso to section 115JB(2), the accounting policies, the accounting standards adopted for preparing such accounts, the method and rates of depreciation which have been adopted for preparation of the profit and loss account laid. 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. Continue. This calculator can help determine if your next land purchase will yield a reasonable return. 33 lakh. The first step is to select the assessment year you want to calculate your tax liability. 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. Year 2: £1200 – £240 = £960. The Present Publication is the 47th Edition & has been amended by the Finance Bill 2023 as passed by the Lok Sabha for A. Real Estate Depreciation is a crucial tax-saving tool. A subtracts line 21 from line 20 and enters $0 on line 22. In this book Tables of Income Tax Rates and Ready Reckoner for A. 3. Track assets and calculate your clients' depreciation automatically. 5,000 per sq. Yearly Depreciation Rate. See how much your asset will be worth using the straight line depreciation formula. INCOME TAX READY RECKONER FOR F. 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. Depreciated building price = Rs 20,00,000* (1/6)= Rs 3. Y. These rates are influenced by factors such as property location, type, and market value. e. 5 years yields a tax deduction for depreciation of roughly $7,738 per full calendar year. Note: (i) While valuing old property, if the value arrived, after allowing above depreciation is less than the developed land value, then valuation should be done as per Guideline No. . Instead, you generally must depreciate such property. If there is no way to estimate a useful life, then do not depreciate the cost of the improvements. Simply select Taluka to get the ready reckoner rates of division or villages wise. Depreciation for the first and last. Maharashtra has increased its prices as of March 31, 2022. 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. ouse invoice with eight multiplications. Continue easy. You can't amend a return that hasn't been filed yet. Under GAAP, it's important that depreciation is charged in full, so the total amount of depreciation for the computers needs to add up to $10,000. Ys. The depreciated value of the property is 10/60, i. 00% $3,000Determine the initial cost: This includes the purchase price of the asset as well as any directly attributable costs like delivery, installation and setup fees. Stamp Duty Ready Reckoner Rate Mumbai 2021. Generally, you adopt a method of accounting for depreciation by using a permissible method of determining depreciation when you file your first tax return, or by using the same impermissible method of determining depreciation in two or more consecutively filed tax returns. S No. The percentage of bonus depreciation phases down in 2023 to 80%, 2024 to 60%, 2025. Judgments. The property’s built-up area (sq. 80 % across all the municipalities, including Thane, Navi Mumbai, Pune, Panvel, and others. e. The total useful life of the property is 30 years. 2024-25 With Income Tax Ready Reckoner For F. A enters the sum of lines 21 and 22, $40,000, on line 23. Depreciation on Straight Line Method (SLM) is not allowed. 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. 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. Straight Line Depreciation Method: Depreciation = (asset cost – salvage value) / useful life of asset. 005 * 1. If you have a 36-month lease on a car that has $5,000 in depreciation over the life of the lease, each month you’ll pay just under $140 in depreciation fees. ft, and the circle rate in that area is Rs. This is the standard method for MACRS assets with class lives of 3 to 10 years. Year: 2022 - 2023 Get Current Ready Reckoner Rate of district Mumbai Suburban minimum rate notified annunal by the Maharashtra State Government ASR for period 1/4/2022 upto 31/3/2023. 2023 mandatory annual training ready reckoner Author: Queensland Government Subject: 2023 mandatory annual training ready reckoner Keywords: 2023 mandatory annual training; ready reckoner; Created Date: 9/19/2023 3:09:15 PMGeneral Elections to the Legislative Assembly of Chhattisgarh, Madhya Pradesh, Mizoram, Rajasthan and Telangana, 2023- Relieving of Expenditure Observer from Election Duty- regarding. The formula consists of dividing the difference between the initial capital expenditure (Capex) amount and the anticipated salvage value at the end of its useful life by the total useful life assumption. 2022 - 23. Separate values for book and tax. covered parking spaces x 25% of ready reckoner rate per unit area for that property. land, residential, commercial and industrial properties for any area defined and published by government of Maharashtra, in there publication namely Annual Statement Rates (ASR) the book is in Marathi known as Bazaar Mulyankan Takta. Any amenities that are present with the property further impact the ready reckoner rate. The mechanism involves an asset such as a building which is depreciated every year. Capital goods imported under EPCG Authorisation for physical exports are also exempt from IGST and Compensation Cess. open parking spaces x 40% of the ready reckoner rate of developed land in that zone. Ships (1) Ocean-going ships including dredgers, tugs, barges, survey launches and other similar ships used mainly for dredging purposes and fishing vessels with wooden hull 20 (2) Vessels ordinarily operating on inland waters, not. Let’s take an example for checking the Government rate/valuation of the Residential Flat located in an urban area. Depreciation Calculator As At Income Levy Act; Depreciation Calculator – Companies Act 2013; FRA Online – Monthly & Yearly Calculations;Bonus depreciation. Double declining balance method formula: (100% / life of asset = depreciation rate) x 2. 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. Year 5: £614 – £123 = £492. Unless you closed on January 1, your first. 5 lakh. 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 result on line 5 of the worksheet. 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. 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. Rates of Depreciation for tax purposes and Market rates of Gold and Silver have also been provided. The stamp duty ready reckoner rates are based on the City Survey (CTS) Number, which takes into account only the location of the property and does not consider. Step 4: Repeat Steps 2 and 3 for as many years as you can depreciate the asset. less weekly offset value –$19. Maharashtra Govt. Income Tax Act of 1961 allows the depreciation of tangible assets and intangible assets. You may be able to elect under Section 179 to recover all or part of. $14,000, being the cost of improvement incurred after 6 October 2020. Practical also comprehensive Guide and Depreciation fee as per Companies Act 2013 calculated using useful life as per Schedule-II and residual value by 5%. India is the second-largest in the world in terms of population. e. This depreciation calculator will help you calculate the loss of value of an asset over a set period of time. Once you’re ready, we’ve vetted hundreds of qualified intermediaries who can guide you in the process. 2. lime. However, the irony is that only around 3% of the population actually pays tax. July 7th, 2023 Ready Reckoner Rate is crucial in real estate transactions, providing a standardised method for valuing properties and determining taxes & fees. ROCE = EBIT / Capital Employed (Total Equity + Total Debt). . Visit GRAS, Select Mode (Online / ATC) of Payment, enter details and generate e-Challan. 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. 2. 1825 or 18. Here are the Ready Reckoner Rates for 10 locations in Mumbai and 5 locations in Pune: Ready Reckoner Rates for Mumbai Region: Area. Depreciation on Goodwill of Business and Profession [Amendement by FA 2021 , w. 6%. GST. Statutes.