Depreciation rate for commercial vehicles

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2013 Please help me

what is the IT depreciation rate for commercial Vehicles purchased on 30.07.2011 and 12.08.2012

Sanket

Sanket (Expert)
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03 September 2013 The rate as per Income tax act is 15%....

Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2013 I am asking on Commercial Vehicles not normal on normal vehicls

Sanket

Sanket (Expert)
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03 September 2013 a) Commercial vehicle acquired on or after 1.10.98 but before 1.4.99 and is put to use before 1.4.99 for the purposes of business or profession. Rate is 40%

b) New Commercial vehicle acquired on or after 1.10.98 but before 1.4.99 and is put to use before 1.4.99 in replacement of condemned vehicle of over 15 years of age for the purpose of business or profession. Rate is 60%

c) New Commercial vehicle acquired on or after 1.4.99 but before 1.4.2000 in replacement of condemned vehicle of over 15 years of age and is put to use before 1.4.2000 for the purpose of business or profession. Rate is 60%

Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2013 Ok i agree with u sir,

So... There is no any separate Depreciation rate for commercial vehicles purchased b/w FY 2012-13 and FY 2011-12

Sanket

Sanket (Expert)
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03 September 2013 Not at all....

Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2013 Thank U so Much.......

Sanket

Sanket (Expert)
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03 September 2013 My Pleasure. Good Day. :)

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