DEPRECIATION ON VEHICLES
This query is : Resolved
16 March 2008
DEAR SIR
IS IT ALLOWED BY AN INDIVIDUAL ASSESSEE, TO CLAIM A LESSER RATE OF DEPRECIATION ON THE VEHICLES, USED DURING THE YEAR, FOR INCOME TAX PURPOSES
S.NARAYANASWAMY
IS IT ALLOWED BY AN INDIVIDUAL ASSESSEE, TO CLAIM A LESSER RATE OF DEPRECIATION ON THE VEHICLES, USED DURING THE YEAR, FOR INCOME TAX PURPOSES
S.NARAYANASWAMY
16 March 2008
On vehicles (if not used for the purpose of letting them on hire) by the assessee, sec 32 says depreciation is allowed @ 15%, whether or not the assesee claims the dep
16 March 2008
Even in the case of let out vehicles, the depreciation is allowed but at higher rate. i.e.,30%
17 March 2008
15% DEPRECIATION IN CASE OF VWCHILES WHICH ARE NOT LET OUT ON HIRE
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