Depriciation
This query is : Resolved
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
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
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
04 February 2011
Yes you can as per section 32 of Income tax rules, 1961.
Regards!!!
Regards!!!
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.
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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