Depreciation

147 views 2 replies

tax consultant

114 Points Joined September 2016

at what rate depreciation is allowed on tractor used for business purpose under income tax act

Replies (2)

student

61 Points Joined May 2016

15%
but if tractor are running it on hire than 30%

Chartered Accountant

2229 Points Joined May 2014

It will be depreciated @ 15% WDV method.
If assessee's business is giving such vehicles on hire, a higher depreciation of 30% will be taken

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