New Commercial Vehicle

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Priya (Querist)
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08 September 2009 If Santro Car purchased for business purpose in the period 01.01.09-31.03.09 eligible for 50% depreciation?
Since the asset is used for less than 180days, whether only 25% depreciation is allowed or 50%?
And what is the depreciation rate for that vehicle for subsequent assessment years?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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08 September 2009 Many are taking the view that the notification is applicable to commercial vehicles only i. e. heavy vehicles like trucks and not to LMV.

So dep @ 15% is used for more than 180 days and 7.5% if used for less than 180 days.

Others view also invited.

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