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Depriciation

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(Querist)
04 February 2011 Sir,
I am working in a logistic/transport company. Our company has purchased vehicle on 28/09/2010. Can we charge full depreciation (i.e.30%) on this vehicle.

thanking you,
rakesh shah
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
04 February 2011 yes is they were Motor buses, motor lorries and motor taxis used in a business of running them on hire
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CMA. Dinesh S Adhikari, ACMA

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CMA. Dinesh S Adhikari, ACMA (Expert)
04 February 2011 Yes you can as per section 32 of Income tax rules, 1961.

Regards!!!
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
05 February 2011 Dear Dinesh
Could you elaborate what u mean to say as i could not understand as there is no section 32 in Income Tax Rules, neither Income Tax Rules were of 1961 and also depreciation rates are not there is section 32 of Income Tax Act.
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