depreciation
This query is : Resolved
11 September 2010
what is the rate of depreciation under indian i.t.act,on tempo attached with trolley used for own business for carriage of goods.
11 September 2010
Since it is not let out, as per my understanding, sub clause (2) of clause 111 of Appendix 1 of rule 5(1) of the Income tax Rules,1962 applies meaning thereby the assessee is eligible to depreciate the referred asset at 20% only.
21 September 2010
Many Thanks. Whether auto trolley would also be depreciated @ 20%?
25 September 2010
Dear Mr Chakrapani,
Thanks for your reply. But under I.T. there no block for any entry for 20% depreciation rate. Where to place the subject assets?
Thanks for your reply. But under I.T. there no block for any entry for 20% depreciation rate. Where to place the subject assets?
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