2 Benefits as per Income Tax Act
This query is : Resolved
23 September 2019
Dear Experts,
We are manufacturing domestic company having turnover around 250 Cr.
We have purchased Car amount to Rs. 35 Lacs on dtd. 06-09-2019.
Sir, can we avail both the benefits i.e. Income Tax Rate @22% and
Additional Depreciation on Car@15%.
Kindly advise.
Rakesh Sharma
We are manufacturing domestic company having turnover around 250 Cr.
We have purchased Car amount to Rs. 35 Lacs on dtd. 06-09-2019.
Sir, can we avail both the benefits i.e. Income Tax Rate @22% and
Additional Depreciation on Car@15%.
Kindly advise.
Rakesh Sharma
25 September 2019
I assume that you are asking query regarding Income tax Memo that is tax working on business income .
In our opinion , additional depreciation will be allowed only for plant and machinery for manufacturing companies and not for vehicles.
.
In our opinion , additional depreciation will be allowed only for plant and machinery for manufacturing companies and not for vehicles.
.
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