Depreciation Rate on commercial vehicle

Recent amendment in New Appendix-I vide Notification No.120/2009 dt.19-01-2009, whereby new entry is added namely (via) in heading III- MACHINARY AND PLANT in item (3) stating that “New Commercial vehicle which is acquired after 01-01-2009 but before 01-04-2009 and is put to use before 01-04-2009 for the purposes of business or profession, Rate of Depreciation is 50%.’ Hence, proviso for user of less than 180 days restricting depreciation @ 50% of normal rate of depreciation will apply. Thus, you are entitled to depreciation @ 25% only (i.e.50% of 50%) for FY 2008-09