enhanced depreciation
This query is : Resolved
20 May 2009
Whether enhanced deprecation is available for motor car for eg. Santro
Deepak Agrawal
(Expert)
20 May 2009
AsEnhanced depreciation as regards to income tax ?
Are you talking about additional depreciation in income tax.
Additional depreciation as per income tax is not available for Car.
As regards enhanced depreication in companies act, you can charge more depreciation as compared to schedule 14. But disclosure is needed in annual report.
Are you talking about additional depreciation in income tax.
Additional depreciation as per income tax is not available for Car.
As regards enhanced depreication in companies act, you can charge more depreciation as compared to schedule 14. But disclosure is needed in annual report.
20 May 2009
As per NOTIFICATION NO. 10/2009, DATED 19-1-2009, new commercial vehicle which is acquired on or after the 1st day of January, 2009 but before the 1st day of April, 2009 and is put to use before the 1st day of April, 2009 for the purposes of business or profession eligible for 50%.
According to the definition of new commercial vehicles it includes light motor vehicles, hence santro in your example eligible for enhanced depriciation, the time limit for purchase of commercial vehicle is extended to 30th september, 2009
According to the definition of new commercial vehicles it includes light motor vehicles, hence santro in your example eligible for enhanced depriciation, the time limit for purchase of commercial vehicle is extended to 30th september, 2009
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Royalty payments to the Mining Department for procurement of murum - GST input
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- TDS- 2026-27 Q1 Correction
- GSTR9 Annual Return
- Ito add credit side of bank
- Employee secondment
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
