Notification 37 of income tax dt 21.04.2009

This query is : Resolved

CA vijendra (Querist)
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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 ?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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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.

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