28 December 2009
Mr " A " purchased Motor Vehicle( commercial vehicle) Rs 600000/- 01.02.09,Can he avail depreciation @50%( ie,25% for 180Days ) as per Notification No 10/2009 dated 19.01.09 ? Can he claim deprciation 125000/- for ther finacial year 2008-09 ?
28 December 2009
For financial year 2008-09 he can claim depreciation Rs.1,50,000/-.
But only if it is a commercial vehicle i.e. heavy goods vehicle, heavy passenger motor vehicle, light motor vehicle, medium goods vehicle and medium passenger motor vehicle (as per Motor Vehicle Act).
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