rates of depreciation
This query is : Resolved
09 July 2009
Hi.
Please tell me the rates of Depreciation as per Income Tax Act on Motor Car from F/Y 1999-2000 Till now.or give me any
site address from where I can get it.
Thanks
Please tell me the rates of Depreciation as per Income Tax Act on Motor Car from F/Y 1999-2000 Till now.or give me any
site address from where I can get it.
Thanks
02 August 2009
Income tax rules would be a good help on the incometaxindia.gov.in website. Check New appendix I & Old appendix for deprecaition rates.
Applicable for assessment years 1988-89 to 2005-06
III. 6Machinery and plant
(1) Machinery and plant other than those covered by 7[sub- items (1A) , (2) ] and (3) below
8[25]
9[(1A) Motor cars, other than those used in a business of running them on hire, acquired or put to use on or after the 1st day of April, 1990
20]
(2) (i) Aeroplanes—Aeroengines
11[40]
(ii) Motor buses, motor lorries and motor taxis used in a business of running them on hire10
12[(iia) Commercial vehicle which is acquired by the assessee on or after the 1st day of October, 1998, but before the 1st day of April, 1999 and is put to use for any period before the 1st day of April, 1999 for the purposes of business or profession in accordance with the third proviso to clause (ii) of sub- section (1) of section 32 [See Note 3A below the Table]
40
(iib) New commercial vehicle which is acquired on or after the 1st day of October, 1998 but before the 1st day of April, 1999 in replacement of condemned vehicle of over 15 years of age and is put to use for any period before the 1st day of April, 1999 for the purposes of business or profession in accordance with the third proviso to clause (ii) of sub- section (1) of section 32 [See Note 3A below the Table]
60
(iic) New commercial vehicle which is acquired on or after the 1st day of April, 1999 but before the 1st day of April, 2000 in replacement of condemned vehicle of over 15 years of age and is put to use before the 1st day of April, 2000 for the purposes of business or profession in accordance with the second proviso to clause (ii) of sub-section (1) of section 32 [See Note 3A below the Table]
60]
13[(iid) New commercial vehicle which is acquired on or after the 1st day of April, 2001 but before the 1st day of April, 2002 and is put to use before the 1st day of April, 2002 for the purposes of business or profession [See Note 3A below the Table]
50]
Effective from assessment year 2006-07 onwards
III. Machinery and Plant
(1) Machinery and plant other than those covered by sub-items (2), (3) and (8) below :
15
(2) Motor cars, other than those used in a business of running them on hire, acquired or put to use on or after the 1st day of April, 1990
15
(3) (i) Aeroplanes - Aeroengines
40
(ii) Motor buses, motor lorries and motor taxis used in a business of running them on hire
30
(iii) Commercial vehicle which is acquired by the assessee on or after the 1st day of October, 1998, but before the 1st day of April, 1999 and is put to use for any period before the 1st day of April, 1999 for the purposes of business or profession in accordance with the third proviso to clause (ii) of sub-section (1) of section 32 [See Note 6 below this Table]
40
(iv) New commercial vehicle which is acquired on or after the 1st day of October, 1998, but before the 1st day of April, 1999 in replacement of condemned vehicle of over 15 years of age and is put to use for any period before the 1st day of April, 1999 for the purposes of business or profession in accordance with the third proviso to clause (ii) of sub-section (1) of section 32 [See Note 6 below this Table]
60
(v) New commercial vehicle which is acquired on or after the 1st day of April, 1999 but before the 1st day of April, 2000 in replacement of condemned vehicle of over 15 years of age and is put to use before the 1st day of April, 2000 for the purposes of business or profession in accordance with the second proviso to clause (ii) of sub-section (1) of section 32 [See Note 6 below this Table]
60
(vi) New commercial vehicle which is acquired on or after the 1st day of April, 2001 but before the 1st day of April, 2002 and is put to use before the 1st day of April, 2002 for the purposes of business or profession [See Note 6 below this Table]
50
Applicable for assessment years 1988-89 to 2005-06
III. 6Machinery and plant
(1) Machinery and plant other than those covered by 7[sub- items (1A) , (2) ] and (3) below
8[25]
9[(1A) Motor cars, other than those used in a business of running them on hire, acquired or put to use on or after the 1st day of April, 1990
20]
(2) (i) Aeroplanes—Aeroengines
11[40]
(ii) Motor buses, motor lorries and motor taxis used in a business of running them on hire10
12[(iia) Commercial vehicle which is acquired by the assessee on or after the 1st day of October, 1998, but before the 1st day of April, 1999 and is put to use for any period before the 1st day of April, 1999 for the purposes of business or profession in accordance with the third proviso to clause (ii) of sub- section (1) of section 32 [See Note 3A below the Table]
40
(iib) New commercial vehicle which is acquired on or after the 1st day of October, 1998 but before the 1st day of April, 1999 in replacement of condemned vehicle of over 15 years of age and is put to use for any period before the 1st day of April, 1999 for the purposes of business or profession in accordance with the third proviso to clause (ii) of sub- section (1) of section 32 [See Note 3A below the Table]
60
(iic) New commercial vehicle which is acquired on or after the 1st day of April, 1999 but before the 1st day of April, 2000 in replacement of condemned vehicle of over 15 years of age and is put to use before the 1st day of April, 2000 for the purposes of business or profession in accordance with the second proviso to clause (ii) of sub-section (1) of section 32 [See Note 3A below the Table]
60]
13[(iid) New commercial vehicle which is acquired on or after the 1st day of April, 2001 but before the 1st day of April, 2002 and is put to use before the 1st day of April, 2002 for the purposes of business or profession [See Note 3A below the Table]
50]
Effective from assessment year 2006-07 onwards
III. Machinery and Plant
(1) Machinery and plant other than those covered by sub-items (2), (3) and (8) below :
15
(2) Motor cars, other than those used in a business of running them on hire, acquired or put to use on or after the 1st day of April, 1990
15
(3) (i) Aeroplanes - Aeroengines
40
(ii) Motor buses, motor lorries and motor taxis used in a business of running them on hire
30
(iii) Commercial vehicle which is acquired by the assessee on or after the 1st day of October, 1998, but before the 1st day of April, 1999 and is put to use for any period before the 1st day of April, 1999 for the purposes of business or profession in accordance with the third proviso to clause (ii) of sub-section (1) of section 32 [See Note 6 below this Table]
40
(iv) New commercial vehicle which is acquired on or after the 1st day of October, 1998, but before the 1st day of April, 1999 in replacement of condemned vehicle of over 15 years of age and is put to use for any period before the 1st day of April, 1999 for the purposes of business or profession in accordance with the third proviso to clause (ii) of sub-section (1) of section 32 [See Note 6 below this Table]
60
(v) New commercial vehicle which is acquired on or after the 1st day of April, 1999 but before the 1st day of April, 2000 in replacement of condemned vehicle of over 15 years of age and is put to use before the 1st day of April, 2000 for the purposes of business or profession in accordance with the second proviso to clause (ii) of sub-section (1) of section 32 [See Note 6 below this Table]
60
(vi) New commercial vehicle which is acquired on or after the 1st day of April, 2001 but before the 1st day of April, 2002 and is put to use before the 1st day of April, 2002 for the purposes of business or profession [See Note 6 below this Table]
50
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