depreciation
This query is : Resolved
CA Soham Shah
(Querist)
13 May 2009
With regard to new circular of CBDT regarding depreciation issued on 24/04/2009
Can any assessee claimed depn. on vehicle (car eg. honda city) purchased on 1/05/09.?????
can any one pleased help its urgent!!!
Does this means that we can't claim the depreciation on car????
Can any assessee claimed depn. on vehicle (car eg. honda city) purchased on 1/05/09.?????
can any one pleased help its urgent!!!
Does this means that we can't claim the depreciation on car????
CA. Rishabh Mittal
(Expert)
14 May 2009
Please note that Notification only applies to Commercial Vehicles (CVs). The benefit of enhanced depreciation on CV's 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. Earlier, this benefit was available only for CV's acquired on or after 1st January 2009 and put to use before 1st April 2009.
CA. Rishabh Mittal
(Expert)
14 May 2009
Important - Notification only applies to Commercial Vehicles.
CA Soham Shah
(Querist)
14 May 2009
Does this means that we can't claim the depreciation on car????
SHIVAM GROVER
(Expert)
16 May 2009
dude u can claim the dep
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