Depreciation rate for commerical vehicle for ay 2023-24

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sachin Alwadhi (Querist)
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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?

RAJA P M

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

sachin Alwadhi

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

RAJA P M

RAJA P M (Expert)
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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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Depreciation rate for commerical vehicle for ay 2023-24

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