Rate of Depreciation

it would be vehicle and the rate of depreciation will be the same as on vehicles.

Depreciation rate of Machinery will be applicable on the same. i.e. 15%

If SLM then rate will be 9.5% and WDV 25.89%... as per nSch XIV of Companies Act...

Income Tax Act.

Vehicle running on hire (That mean you have to offer hiring charges as income from such vehicle) then rate of depreciaition is 30%.

Vehicle used in business of other than running on hire - 15%

as per Income Tax 30%

and as per Companies Act, it is 16.21% SLM or 40%WDV

Depreciation on that vehicle would be @ 15% as per Income Tax Act, 1961

Depreciation will be @ 15%. And if it is let out on hiring/plying then it will be 30%.

25.89% as per companies act and 15% as per income tax