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Depreciation
mistakley we charged 15 percent depriciation in commercial vehicles?? my question is this rate is correct for commercial vehicles or answer is no then what is rate of depriciation of commercial vechle? and we can change the rate of depriciation rate or not
Replies (11)
Rate is correct if such commercial vehicle not used for in business of running them on hire.
Use for business
Running them on hire ???
Is this vehicle purchased after 23.08.2019 but before 01.04.2020? if not then, and if not used in hire business then the rate used is correct .
Its use for business and purchase date is 24.5.2020 then
After April 2020 and not used in hire business then the rate is 15%. hope ur business is not hiring business.
No our business is wholesale of flour nd we used tempo for good carrying then sir
No our business is wholesale of flour nd we used tempo for good carrying then sir
Then rate is 15%
Ok thanks to all for giving ur valuable time
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