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.
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
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