Depreciation rate for vehicle
This query is : Resolved
30 March 2012
Dear Sir,
We have purchased car on company name but usage will be for employee use. As per comapny act depreciation rate for vehicle 9.50% but if the car use for employee then what is depreciation rate as per company act & income tax act
Thanks & regards
SUREKHA
We have purchased car on company name but usage will be for employee use. As per comapny act depreciation rate for vehicle 9.50% but if the car use for employee then what is depreciation rate as per company act & income tax act
Thanks & regards
SUREKHA
30 March 2012
Dear friend, there is no change in the rate of depreciation for company , whether car is used by the company or its employee. you can charge the employee as perque.
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