Depreciation on radio cabs

This query is : Resolved

PRATIK R SHARMA (Querist)
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07 April 2015 Just out of curiosity I searched this question but unable to find its answer , if anybody can help me .. How does the depreciation calculation on cabs done by radio cabs operators like ola , meru , uber etc.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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07 April 2015 The radio cabs operators like ola , meru , uber etc. are not the owners of the vehicles being run under their brand. The same is owned by the driver running it and hence no depreciation is calculated by the radio cab operators.

The individual drivers can compute depreciation @ 30% the rate being for Motor buses, motor lorries and motor taxis used in a business of running them on hire subject to being used for more than 180 days in the previous year.