Depreciation u/s 32
This query is : Resolved
02 March 2009
Hi All,
My client has bought 5 REVA cars (electricity cars).
Now he wants to charge depreciation on them for the FY 2008-09. So, I need the rate od deprication on Electric Cars as per Income Tax Act 1961.
Regards,
Sree :)
My client has bought 5 REVA cars (electricity cars).
Now he wants to charge depreciation on them for the FY 2008-09. So, I need the rate od deprication on Electric Cars as per Income Tax Act 1961.
Regards,
Sree :)
02 March 2009
Motor Car will be in 15% Block, and if in business of running them on hier 30% Block for Income Tax purpose.
and for Co Law purpose you have to follow the min. rate of Dep. and max will be in yours hand.
and for Co Law purpose you have to follow the min. rate of Dep. and max will be in yours hand.
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