Depreciation rate for FY 2021-22

This discussion clarifies the depreciation rate applicable to electric scooters for the Financial Year 2021-22 (Assessment Year 2022-23). It confirms that electrically operated vehicles, including battery and fuel-cell powered ones, are eligible for a 40% depreciation rate as per the Income Tax Act from AY 2018-19 onwards. The query also touches upon the vehicle's 3-year lifespan and requests specific act and section details for this 40% depreciation.