Notification 37 of income tax dt 21.04.2009
This query is : Resolved
CA vijendra
(Querist)
17 August 2009
Dear All,
I have query related to enhancement of Dep rate @50% on new commercial vehicle for plan & machinery item No 3 (via)related to newpurchases and put to use from 01 jan 09 and on or before 1 oct 2009.
Query :
1) as per notification, amendment w.e.f. 01 april,2010 and as per IT rule new apendix 1 mentioned w.e.f. 01.04.2009. so, which effective date is valid for considering 50% dep rate?
2) If new comm. vehicle purchased in beween 01.01.2009 to 31.03.2009, then all those new comm vehicle are elegible for 50% dep for p.y. 2008-09 i.e. for AY2009-10 ?
I have query related to enhancement of Dep rate @50% on new commercial vehicle for plan & machinery item No 3 (via)related to newpurchases and put to use from 01 jan 09 and on or before 1 oct 2009.
Query :
1) as per notification, amendment w.e.f. 01 april,2010 and as per IT rule new apendix 1 mentioned w.e.f. 01.04.2009. so, which effective date is valid for considering 50% dep rate?
2) If new comm. vehicle purchased in beween 01.01.2009 to 31.03.2009, then all those new comm vehicle are elegible for 50% dep for p.y. 2008-09 i.e. for AY2009-10 ?
Aditya Maheshwari
(Expert)
19 August 2009
1. If commercial vehicle purchased after 01.01.2009 upto 31.03.2009 and put to use by 31.03.2009 then dep allowable @ 50%. The said date has been extended to 30.09.2009 also.
2. Only new commercial vehicle purchased during the said perios will be eligible for enhanched dep and not others.
2. Only new commercial vehicle purchased during the said perios will be eligible for enhanched dep and not others.
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