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Depreciation Rate

RAHUL RAJU (124 Points)

09 January 2021

what is the rate of depreciation on JCB ? Please help

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 09 January 2021

30% depreciation

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Krishna Chaudhary (Accountant) (4531 Points)
Replied 09 January 2021

The rate adopted by the assessee for claiming depreciation on JCB is 30%. The Act prescribes 30% depreciation for motor buses, motor lorries and motor taxies used in a business of running them on hire as provided in (rule 5) - New Appendix-I (effective from A.Y. 2006-07 onwards).

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 30 January 2021

https://www.incometaxindia.gov.in/Charts%20%20Tables/Depreciation%20rates.htm

Complete List is given above.

Generally rate is 15% However if JCB is purchased dueing 23.08.2019 to 31.03.2020 then rate will be 30% as per Notification No. 69/2019-Income Tax

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