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
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.
CAclubindia
