Depreciation Rate
RAHUL RAJU (127 Points)
09 January 2021
what is the rate of depreciation on JCB ? Please help
3 Replies
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)
(86323 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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