Allowance of depreciation on motor vehicles owned and used by tour operators and travel agents in the business of running these vehicles on hire for tourists

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ircular Dated:- 6-1-1992 Circular<br>Income Tax<br>Allowance of depreciation on motor vehicles owned and used by tour operators and travel agents in the business of running these vehicles on hire for ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ated 24th July, 1991 (See [1991] 190 ITR (St.) 323), the rate of depreciation in sub-item (2)(ii) of item III of Appendix I to the Income-tax Rules, 1962, has been changed to 40 per cent. from the ear....