2 Benefits as per Income Tax Act

This query is : Resolved

Rakesh Sharma (Querist)
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23 September 2019 Dear Experts,

We are manufacturing domestic company having turnover around 250 Cr.
We have purchased Car amount to Rs. 35 Lacs on dtd. 06-09-2019.

Sir, can we avail both the benefits i.e. Income Tax Rate @22% and
Additional Depreciation on Car@15%.

Kindly advise.

Rakesh Sharma

A.S.SUNDARARAJAN

A.S.SUNDARARAJAN

(Expert)
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25 September 2019 I assume that you are asking query regarding Income tax Memo that is tax working on business income .

In our opinion , additional depreciation will be allowed only for plant and machinery for manufacturing companies and not for vehicles.

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