DEPRECIATION RATE
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 June 2010
WHAT IS THE RATE OF DEPRECIATION ON TRACTOR AND MOTOR VEHICLE AS PER COMPANIES ACT AND AS PER INCOME TAX ACT.
28 June 2010
As per Companies Act >
Motor Tractors > WDV - 30% & SLM - 11.31%
Motor Vehicle > WDV - 25.89% & SLM - 9.5%
As per Income Tax Act >
Motor Vehicle > 15%
Motor Tractors > They are not included in commercial vehicle, and no special rate is provided for that, may be cecause the agricultural income is exempt.
Experts views are solicited.......
Motor Tractors > WDV - 30% & SLM - 11.31%
Motor Vehicle > WDV - 25.89% & SLM - 9.5%
As per Income Tax Act >
Motor Vehicle > 15%
Motor Tractors > They are not included in commercial vehicle, and no special rate is provided for that, may be cecause the agricultural income is exempt.
Experts views are solicited.......
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