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)
Quick Summary
This discussion clarifies the correct depreciation rate for commercial vehicles. It confirms that a 15% rate is generally acceptable for vehicles used in a business (like a flour wholesale company using a tempo for goods) provided they were purchased after April 1, 2020, and are not used for hire or reward. The participants also touched upon the possibility of changing depreciation rates under specific circumstances.

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

Welcome....My Pleasure....

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