Depreciation on Motor car and Motor cycle

30 September 2021

please give rate of Depreciation of Motor car and Motor cycle for Firm and Individuals for A.Y 2021-22

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2 Replies

Rama chary Rachakonda (Master in Accounts & high court Advocate) (8621 Points)
Replied 30 September 2021

Depreciation rate can be calculated as follows

Total cost of the vehicle - Scrap value X 100 divided by life of the vehicle = % of depreciation.

CA ABHAY GUPTA (Practice) (3235 Points)
Replied 30 September 2021

Depreciation rate as per Income Tax Act, 1961 is 15% on both car and cycle...

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