ignatius irudhayaraj (articled assitant) (48 Points)
16 February 2009i hav a client who owns 5 autorickshaws, what will be the depreciation charge for the same?
i m confused whether we ll take it in 15% slab or 30% as it is for commercial use
please help..
ignatius irudhayaraj
(articled assitant)
(48 Points)
Replied 17 February 2009
Ali Ahmed Khan
(CA Student)
(245 Points)
Replied 23 August 2019
Depreciation--Rate--Three-wheelers like "tempos" and "auto rickshaw"-
-If used on hire 30% allowable otherwise 20%.
Three wheelers like "tempo and "auto rickshaw" fall in the category of
item IIIC(7) of Appendix I to the Income-tax Rules, 1962 and are
entitled to depreciation at 20 per cent. In cases, however, these
vehicles are used for plying on hire, they would fall under item
III(ii)D(9) and would be entitled to depreciation at 30 per cent..
[F. No. 202/47/71-IT(AII), dated 23.11.1971].
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