Depreciation on commercial vehicle
This query is : Resolved
22 February 2009
dear sir,
If the company purchases motor car for the director and the director uses it for the company's business then will it come under commercial vehicle eligible for depreciation @50% as per notification 10/2009
pls advice
If the company purchases motor car for the director and the director uses it for the company's business then will it come under commercial vehicle eligible for depreciation @50% as per notification 10/2009
pls advice
22 February 2009
If he wants to run it as a taxi then he can claim 50%. Since he is running hotel business you can claim the higher rate of deprectiation if you could provide letters that the car is being used for pick up and dropping of customers.
24 February 2009
Dear sir,
If a company purchases car for its director to use it to run for company's business purpose (not as a taxi)then is the company eligible for depreciation @50% as per notification 10/09?
please advice.
priya
If a company purchases car for its director to use it to run for company's business purpose (not as a taxi)then is the company eligible for depreciation @50% as per notification 10/09?
please advice.
priya
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