Depreciation on jcb machine

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Uma Shankar Gupta

Uma Shankar Gupta (Querist)
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20 September 2013 SIR,
Please tell us what is the DEPRECIATION ON JCB MACHINE?

Sanket

Sanket (Expert)
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20 September 2013 in my opinion ,rate of depreciation will be 15%, whether registered under MVAct or not . as they are not used for running them on hire.
only hired motor busses/lorries eligible for 30% dep

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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20 September 2013 Though JCB has been categorized as an excavator and its main function is removing soil or earth, yet at the same time, JCB’s another function is to carry or transport removed soil and dump it at another site to discharge function like transshipment and loading into another vehicle and therefore, for the purpose of depreciation, JCB can be treated as a motor lorry and it would be eligible for higher depreciation at 40 percent (30% from asst yr 2006-07 and onwards).

CITATION:- Gaylord Constructions vs. ITO (2008) 175 Taxman (Magz.) 99 (Cochin)

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