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?
Madhavi Pandit (78 Points)
12 September 2019Hi 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?
pd23071997
(None)
(388 Points)
Replied 12 September 2019
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% |
Kapadia Pravin
(17249 Points)
Replied 12 September 2019
Madhavi Pandit
(78 Points)
Replied 13 September 2019
Any one has a circular regarding the increase in the depreciation rate and the conditions, if any?
CAclubindia
