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Depreciation Vehicles

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Kishore Nuthalapati

Accountant for multiple small entities

171 Points Posted on 21 July 2023

Hi Sir or Madam

As per Income tax act Depreciation rate is 15% for vehicles

will it allowable to claim depreciation at 10% or 20% not in line with income tax act

Please advise

Thanks in advance

Replies (2)

Quick Summary

This discussion clarifies vehicle depreciation rates according to the Income Tax Act. The standard rate is 15%, and claiming 10% or 20% is generally not permissible unless specific conditions are met. If a vehicle is purchased after the six-month mark of the financial year, depreciation can be claimed at half the standard rate.

NARENDRA

ACCOUNTS MANAGER

2213 Points Posted on 21 July 2023

No, not possible ................. only if you bought vehicles after the six months of the f.y. you can depreciate half of the rate .

Janet Morgan

24 Points Posted on 03 May 2024

Originally posted by : NARENDRA battleship online
	No, not possible ................. only if you bought vehicles after the six months of the f.y. you can depreciate half of the rate .