Depn Rate for commercial vehicle

This query is : Resolved 

09 March 2009 Dear Sir,
My co. purchased a car on 10/01/09 for and given to employee for his official use. Pl clarfy wheather it is commercial vehicle and if it is commercial vehicle that wheather 180 day clause would be applicable on that i.e. depn rate @50% of 25%.


Regards,

Sandeep Aggarwal

09 March 2009 It is not a commercial vehicle and the rate of depreciation is 15%.

As you have used the vehicle for less than 180days, so you should charge depn. @ 7.50% in the first year.

09 March 2009 Dear Tilak
As per RTO passing,we have paid higher regn. fees. what is the meaning of commercial vehicle.

Regards,

Sandeep Aggarwal


09 March 2009 Dear Tilak
As per RTO passing,we have paid higher regn. fees. what is the meaning of commercial vehicle.

Regards,

Sandeep Aggarwal

09 March 2009 Motors car other than used in the business of running them on hire - rate is 15%.

There is no higher rate of depreciation for commercial vehilces purchased after April 2002.

09 March 2009 Commercial Vehicles are defined under section 2 of the motor vehicle act 1988.



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