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.
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.
CAclubindia
