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?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- Minimum tax payable to file Updated return
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Applicability of GST on Salary Reimbursement Component
- Tds on commission charges
- Dep. as per companies act
- Renovation exp. in flat by family member
- FAST-DS Scheme - Foreign Assets
- UDIN ISSUE
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
21 September 2026
CA Article Assistant
KK & Company Chartered Accountant
Pune
CA Inter
View Details
ARTICLESHIP
15 September 2026
Freelance Taxation Content Writer Intern
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
22 September 2026
Account Assistant
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
ARTICLESHIP
07 September 2026
Article/ Paid Assistant
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
CCI
Pro
CAclubindia
