Depreciation

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

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

 

Ankit, 40% was charged from AY 2003-04 to 2005-06, from AY 2006-07 onwards d rate is 30%.

you can charge @ 30%

 

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

I agree with puri misra

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%.