Higher depreciation on commercial vehicle

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....igher depreciation on commercial vehicle<br> Query (Issue) Started By: - Kishor Vishnu Dated:- 5-4-2010 Last Reply Date:- 8-4-2010 Income Tax<br>Got 1 Reply<br>Income Tax<br>During the financial year ....

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....2008-09 ( A Y 2009-10) a motor car ( i.e. Light Motor Vehicle) purhcased between the period 1.1.2009 to 31.3.2009. There was a provision of depreciation to be charged @ 50%. Now, what should be the ra....

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....te of depreciation for the financial year 2009-2010 ( i.e. A Y 2010-10) for WDV as on 1.4.2009 for the same LMV (motor car)? Whether it is 50% or 15% ? Reply By Surender Gupta: The Reply: IT will rem....

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....ain to be 50% for the subsequent years. See entry no. (via) within the block plant and machinery in the Annexure 1 of the Income Tax Rules, 1962<br> Discussion Forum - Knowledge Sharing ....