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Depreciation rate for commerical vehicle for ay 2023-24

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(Querist)
25 September 2023 Hi
Person having business of rent a cab operator and hold vehicle in name of firm which is proprietory .What will be depreciation rate for vehicle used for commercial purposes?
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RAJA P M

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RAJA P M (Expert)
25 September 2023 15% as per income tax
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sachin Alwadhi

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sachin Alwadhi (Querist)
26 September 2023 kindly guide under which condition 40% depreciation charged? because i read 40% for brand new commercial vehicle.kindly suggest



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RAJA P M

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RAJA P M (Expert)
26 September 2023 https://www.caclubindia.com/articles/depreciation-rates-as-per-income-tax-act-for-fy-2023-24-49584.asp

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