Depreciation on commercial vehicles(lorries)purchased
This query is : Resolved
13 May 2015
what is the rate of depreciation for lorries purchased on 19-09-2008 and exclusively used for business or profession whether it will be incorrect if we calculate depreciation at 50% or under entry plant and machinery at 15 %
13 May 2015
50% is in correct. 15% given in appendix 1 for P & M may be followed.
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