Depreciation rate for vehicle
This query is : Resolved
surekha wadte
(Querist)
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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