Biju (Director) (24 Points)
24 March 2009Hi All,
As per the Cicular No10/2009 CBDT vehicles purchased between 1/1/2009 to 31/3/2209 can claim 50% depreciation.Is it necessary to regiter the vehicle before 31/3/2009.Can the same depreciation will be allowed if the vehicle is only invoiced but not registered before 31/3/2009.
S Subramanian
(Chartered Accountants)
(24 Points)
Replied 25 March 2009
The condition for claiming the additional depreciation is that the vehicle should have been put to use before the 1st day of April 2009 for the purposes of business or profession. It goes without saying that for this purpose the vehicle should have been registered.
CAclubindia
