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Extension of benefit of enhanced depreciation

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Extension of benefit of enhanced depreciation

Press Release No. 402/92/2006-MC (10 of 2009)

Dated 24-4-2009

The benefit of enhanced depreciation on commercial vehicles has been extended up to 30th September 2009. Now, commercial vehicles acquired on or after 1st January 2009 and put to use before the 1st October 2009 will be eligible for depreciation at the rate of 50 percent. The Central Board of Direct Taxes have issued a notification vide S.O. 989(E) dated 21st April 2009 (Notification No. 37/2009/F.No.142/01/2009-TPL) to this effect, substituting the words “1st day of April 2009” with the words “1st day of October 2009”.

Earlier, the benefit was made available for commercial vehicles acquired on or after 1st January 2009 and put to use before the 1st April 2009 vide a notification dated 19th January 2009.

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Comments (2)

Sumit Rishi
wrote on 10 May 2009

They use the word in the notification that only "light commercial vehicle" will be eligible for enhanced rate of depreciation. Does it mean the light vehicle used for renting & hiring will be eligible for higher rate or the light vehicle used by the businessman will be also be eligible for enhanced rate... Kindly clear the interpretation...

M.M.SURANA
wrote on 01 May 2009

It is incencetive but, It is not going to benefit to number of person. It is a recession period already industries/business earning has come down.

Extension of benefit of enhanced depreciation

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