Become a Govt. Certified GST Practitioner in just 60 hrs. Register Now!

Depreciation rate

Jinsheer K (10 Points)

12 May 2020

when individual case vehicle depreciation rate

Reply
Follow
Share

3 Replies

Nihit Somani (110 Points)
Replied 12 May 2020

Dep rate for vehicle as per IT is 15%

Upgrade to CAclubindia Pro. Subscribe Now!

CA Kratanshu Gupta (Chartered accountant) (290 Points)
Replied 13 May 2020

Depreciation as per income tax act is applicable for individual category which is @ 15% motor vehicle other than running on hire basis
in the case of vehicle running on hire basis @ 30%

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 24 July 2020

And if acquired on or after the 23rd day of August, 2019 but before the 1st day of April, 2020 and is put to use before the 1st day of April, 2020 than depreciation rate is
@ 30% motor vehicle other than running on hire basis
@ 45% in the case of vehicle running on hire basis