Income-tax (Third Amendment) Rules, 2009- Amendment in New Appendix 1 - TABLE OF RATES AT WHICH DEPRECIATION IS ADMISSIBLE - 10/2009 - Income Tax Act, 1961
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Depreciation rate for new commercial vehicles allowed for qualifying acquisitions and use within the specified timeframe. The Income-tax Rules, 1962 are amended to insert, in New Appendix 1 Part A (Tangible Assets) under III. Machinery and Plant item (3), a sub-item providing a specified rate of depreciation for a new commercial vehicle acquired between the first day of January and before the first day of April and put to use for business or profession before the first day of April; the amendment is made under the Income-tax Act and takes effect on the first day of April.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Depreciation rate for new commercial vehicles allowed for qualifying acquisitions and use within the specified timeframe.
The Income-tax Rules, 1962 are amended to insert, in New Appendix 1 Part A (Tangible Assets) under III. Machinery and Plant item (3), a sub-item providing a specified rate of depreciation for a new commercial vehicle acquired between the first day of January and before the first day of April and put to use for business or profession before the first day of April; the amendment is made under the Income-tax Act and takes effect on the first day of April.
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