08 September 2009
If Santro Car purchased for business purpose in the period 01.01.09-31.03.09 eligible for 50% depreciation? Since the asset is used for less than 180days, whether only 25% depreciation is allowed or 50%? And what is the depreciation rate for that vehicle for subsequent assessment years?
08 September 2009
Many are taking the view that the notification is applicable to commercial vehicles only i. e. heavy vehicles like trucks and not to LMV.
So dep @ 15% is used for more than 180 days and 7.5% if used for less than 180 days.
CAclubindia
