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

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....come 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 tourists Circular No. 622 Dated 6/1/1....

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....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 earlier figure of 50 per cent. 3. In view of the ....