Depreciable assets are those assets which are actually used and their value is written down over a period of time. The value of the assets decreases due to the wear and tear. The depreciable assets are tangible assets such as vehicles, heavy equipment, furniture, electronics, etc. The method used for depreciation is as per the Income Tax Act, 1961. 

The rate of depreciation differs according to the asset and the number of years over which the value of the asset should be written off also differs. The depreciation amount of the assets can be claimed for tax benefit. Depreciable assets are long term assets i.e., they have a life for more than one year. These assets should be used for business purposes and the person who claims the depreciation should be the owner of the assets.

For example: There are certain assets such as land, stocks, etc. cannot be depreciated but other assets as mentioned above can be depreciated.