Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 September 2011
What is the depreciation rate under Income Tax for "TRAILORS" ?
23 September 2011
30 % if the assessee's business is running them on hire, otherwise 15%. These rates are w.e.f 2006-07 assessment year and onwards.
For a full insight of the issue u may refer Allahababd high court decision in the case of
Commissioner Of Income-Tax Vs Dhampur Sugar Mills Ltd dated 9 March, 2005 and reported in
(2006) 280 ITR 161.
For a full insight of the issue u may refer Allahababd high court decision in the case of
Commissioner Of Income-Tax Vs Dhampur Sugar Mills Ltd dated 9 March, 2005 and reported in
(2006) 280 ITR 161.
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