Depreciation

As per Income Tax act Truck is Depreciated At rate of 30% 

DEPRECIATION ON TRUCK IS30%

thnk u guy for your reply. but i m confused about a notification that enabled 40 % depreciation for commercial vehicles.. so do anybody have idea.

i want to use this truck just to transport goods of my business form factory to dealers

Hi Ankit

You can charge it by 30%

Dear ankit

As per income tax 30% & as per Company act.  25.89% on truck.

thanks

Ramanuj

you can charge @ 30%

source: https://www.indiantaxupdates.com/depreciation-rates-as-per-income-tax-act-1961/

Rate of dep. will be 15%. As 30% is for vehicles if assessee has a business of running them on hire. In the present case Assessee is a Cellphone Manufacturer not have a business of giving vehicles on hire. Therefore, Dep.rate is 15%.

Originally posted by : Ankit Bhansali
	i am a cellphone manufacturer. i want to purchase a truck to be used to transport my cellphone from factory to dealer. what depreciation i should charge. 15, 30, 40. pls reply asap

Hi !!  Ankit

The Depreciation rate for Vehicles as per Income Tax is 30%

If you have incorporated your business as a company then the rate for vehicles is 25.89%

Thanks

Satyen Sharma

Hi !!  Ankit

The rate for Depreciation on Vehicles as per Income Tax is 30%

The rate for depreciation on vehicles as per companies act is 25.89%

Thanks

Satyen Sharma

I dont why y people are not understanding that dep. rate is 15% on vehicles. 30% is in case of if assessee has a business of giving vehicles on hire which is not as per the present case.

Miss BArkha The Tax Rate on Commercial Vehicles is 30% And On some Commercial Vehicles it depends on the date of purchase. Here nothing is mention hence,we take it as 30%

@ rashmi Gandhi. Commercial Vehicles should be use for hire for dep @ 30% and my query was it is not used for hire. i m using just for transfering of goods to dealers. so its commercial vehicle but not used for hire so 15%. u can look at schedule attached in this discussion..