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Car depreciation purchased till march 2020

Tax queries 976 views 5 replies

Hi All,

Will the car depreciation for BSIV cars purchased from oct 19 to mar 20 be 30% flat or half of 30% as the asset used for less than 180 days?

Replies (5)
It will be half of 30%
what is BSIV cars.

pls explain?

Depreciation as per Income tax will be 50% of the following....

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%

Motor buses, motor lorries and motor taxis used in a business of running them on hire 30%

 

@ Pranav

The Bharat stage emission standards are standards instituted by the government to regulate output of air pollutants from motor vehicles.

Then Bharat Stage VI (or BS-VI) emission norm would come into force from April 1, 2020 across the country. ...

The BS IV norms have been enforced across the country since April 2017.

Any one has a circular regarding the increase in the depreciation rate and the conditions, if any?


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