depreciation

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hitesh (Querist)
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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.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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.

hitesh

hitesh (Querist)
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21 September 2010 Many Thanks. Whether auto trolley would also be depreciated @ 20%?

hitesh

hitesh (Querist)
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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?

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