Depreciation Rate as per Income Tax Act
This query is : Resolved
20 December 2020
I am running a Petrol Pump Business. I purchased one tanker for bringing Petrol/Diesel from depot to my business place and also purchases Solar System
What is the Depreciation Rate on-
1. Tanker
2. Solar System
What is the Depreciation Rate on-
1. Tanker
2. Solar System
05 January 2021
please provide solution of above query .
and what is the depreciation rate on commercial vehicle purchased during fy 2018-19
and what is the depreciation rate on commercial vehicle purchased during fy 2018-19
05 January 2021
You can refer to the below link for latest depreciation rates applicable under Income Tax act
https://www.incometaxindia.gov.in/Pages/charts-and-tables.aspx
Go to depreciation rates chart
https://www.incometaxindia.gov.in/Pages/charts-and-tables.aspx
Go to depreciation rates chart
28 October 2021
1. 30%
2. 40% as per IT act ..
2. 40% as per IT act ..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
