Depreciation
This query is : Resolved
Prasanna Venkatesh
(Querist)
11 March 2009
In the Interim Budget, the slab Rate of Depreciation as per Income Tax Act has been increased for Commercial Vehicles . The term commercial vehicles includes motor cars. Can the increased slab rate be claimed for Motor Cars used in the normal course of Business recorded in the entity as a Business Asset?
CA Tirth Ajani
(Expert)
11 March 2009
yes u can claim depreciation on higher rate.
Message likes :
1 times
CA Sanjeev Kr Jain
(Expert)
15 March 2009
I BELIEVE THE HIGHER DEP CAN BE CLAIMED ON THE CARS USED IN CAR HIRING BUSINESS ONLY
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