Articled Assistant
63 Points
Joined June 2009
Originally posted by :Vkas |
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Sir,
I had purchased a mahindra pick-up van on 05-jan-2009.. i want to know how much rate of depciation for financial year 2008-2009. |
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As it is clearly mentioned that the assessee purchased a mahindra pick up van, the same should be used for business or commercial use the rate of depreciation is 50% for the same. But the van is purchased on 05 Jan 2009 and assume that it is put to used on the same day, so the asset is used less than 180 days in the financial year 2008-09, hence the depreciation is calculated at the rate of 25%.