Now as it is clarified that the vehicle is not for hire, then the rate for dep is 15%
Satyen
CA Satyen Sharma
(Head - Accounts and Finance)
(71 Points)
Replied 04 February 2013
Now as it is clarified that the vehicle is not for hire, then the rate for dep is 15%
Satyen
CA BARKHA MITTAL
(B.COM, CA)
(149 Points)
Replied 04 February 2013
Ms. Rashmi read the meaning of commercial vehicles first then answer.
Parimel
(Administration)
(41 Points)
Replied 06 February 2013
sir, pl refer to the rates of depreciation. Your asset (commercial vehicle used for the purpose of own business other than the business of running them on hire) falls under the category of III(1) and not III(2) or III(3), which prescribes the rate of 15%.
CAclubindia
