i 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..
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depreciation charge for auto rickshaw
Replies (3)
Take 15% dep rate.
but dude, i hav checked with bare act, n in 30% slab it says abt motor car, trucks for hire, even though autorickshaw is not specified over there, but on the base of hire, cant we go for 30%
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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