depreciation
This query is : Resolved
sanalkumar t m
(Querist)
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
Can he claim deprciation 125000/- for ther finacial year 2008-09 ?
Pls kindly advice me
Aditya Maheshwari
(Expert)
28 December 2009
It is applicable only if a commercial vehicle is purchased not otherwise
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.
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
(Querist)
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
Happy Newyear to u & family
Sanalkumar t m
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