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%
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
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