Depreciation rate for commerical vehicle for ay 2023-24


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This discussion clarifies the depreciation rates for commercial vehicles used in a rent-a-cab business for AY 2023-24. It addresses the standard 15% rate and explores the conditions under which a higher 40% depreciation can be claimed, particularly for brand-new commercial vehicles. The aim is to provide guidance on maximising depreciation benefits for proprietorship firms.

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?

25 September 2023 15% as per income tax

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

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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