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Innova-four Wheeler fixed assets

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629 Points Posted on 23 May 2021
Dear Sir

We have a proprietorship purchased Innova-four Wheeler Invoice value 1980000/- and date 19 Feb 2021. So can I Claim deprecation. if Yes how much % and how many Days.
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On 23 May 2021 at 08:06 Report
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Chartered Accountant
24588 Points Posted on 23 May 2021
For income tax purposes depreciation rate will be 50% as it is used for less than 180 days. Rate will be 15% * 50% is 7.5%
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On 23 May 2021 at 10:19
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629 Points Posted on 23 May 2021
Thank you Sourav Sir
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On 23 May 2021 at 10:44
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Chartered Accountant
24588 Points Posted on 30 May 2021
Your welcome
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On 30 May 2021 at 12:39


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