Depreciation rate for vehicle

This query is : Resolved

surekha wadte (Querist)
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30 March 2012 Dear Sir,

We have purchased car on company name but usage will be for employee use. As per comapny act depreciation rate for vehicle 9.50% but if the car use for employee then what is depreciation rate as per company act & income tax act

Thanks & regards
SUREKHA

CS, Deepak Pratap Singh

CS, Deepak Pratap Singh (Expert)
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30 March 2012 Dear friend, there is no change in the rate of depreciation for company , whether car is used by the company or its employee. you can charge the employee as perque.