depreciation

This query is : Resolved

sanalkumar t m (Querist)
Follow

28 December 2009 Mr " A " purchased Motor Vehicle( commercial vehicle) Rs 600000/- 01.02.09,Can he avail depreciation @50%( ie,25% for 180Days ) as per Notification No 10/2009 dated 19.01.09 ?
Can he claim deprciation 125000/- for ther finacial year 2008-09 ?

Pls kindly advice me

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

28 December 2009 It is applicable only if a commercial vehicle is purchased not otherwise

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
Follow

28 December 2009 For financial year 2008-09 he can claim depreciation Rs.1,50,000/-.

But only if it is a commercial vehicle i.e. heavy goods vehicle, heavy passenger motor vehicle, light motor vehicle, medium goods vehicle and medium passenger motor vehicle (as per Motor Vehicle Act).

Tractor is not included.

sanalkumar t m

sanalkumar t m (Querist)
Follow

30 December 2009 Thanku for giving u r valuable advice & I continue to wellcome u r advice and blessings
Happy Newyear to u & family

Sanalkumar t m

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Somnath Maiti

Shantaveeresh Manur

S D Kannan

adarsh chaturvedi

Dinesh kumar

Subscribe Now

depreciation

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA