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Depreciation on Motor car and Motor cycle
please give rate of Depreciation of Motor car and Motor cycle for Firm and Individuals for A.Y 2021-22
Replies (2)
Quick Summary
Depreciation rate can be calculated as follows
Total cost of the vehicle - Scrap value X 100 divided by life of the vehicle = % of depreciation.
Depreciation rate as per Income Tax Act, 1961 is 15% on both car and cycle...
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