depreciation

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....epreciation<br> Query (Issue) Started By: - SARVESH BALDI Dated:- 23-11-2012 Last Reply Date:- 27-11-2012 Income Tax<br>Got 3 Replies<br>Income Tax<br>sir we have hired tippper & receive hire charges....

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.... & same is taxed as business income. what rate of dep. allowable-: 1. nornal rate ie 15% under plant & machinery or 2.motor buses motor lorries used in business of running them on hire - 30% ---- ....

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....can tippers be classified as motor lorries???? also suggest relevant latest case laws Reply By CA GOPALJI AGRAWAL: The Reply: The Tippers, Vibrators and Vibrators soil compactors are commercial veh....

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....icle eligible for higher rate of depreciation @ 30% You may visit the below case law 2012 (5) TMI 7 - PUNJAB & HARYANA HIGH COURT Reply By SARVESH BALDI: The Reply: sir actually we have given ti....

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....ppers on hire & hire charges r received. then also can we claim deprciation under commercial vehicle ?? or under motor vehicles lorries given on hire & hiring is business os assessee?? Reply By CA GO....

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....PALJI AGRAWAL: The Reply: Of course, if the tippers are given and hiring charges is being recd, you would be entiled for higher depreciation.<br> Discussion Forum - Knowledge Sharing ....