Higher depreciation on certain motor cars, motor buses, motor lorries and motor taxis

Last updated: 22 September 2019

Notice Date : 20 September 2019

MINISTRY OF FINANCE

(Department of Revenue)

(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION

New Delhi, the 20th September, 2019

(Income-tax)

G.S.R. 679 (E).—In exercise of the powers conferred by section 32 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes, hereby, makes the following rules to further amend the Income-tax Rules, 1962, namely:

1. Short title and commencement.- (1) These rules may be called the Income-tax (9th Amendment) Rules, 2019.

(2) They shall be deemed to have come into force with effect from the 23rd day of August, 2019.

2. In the Income-tax Rules, 1962, in the NEW APPENDIX I, in the Table, in PART A relating to TANGIBLE ASSETS, in item III relating to MACHINERY AND PLANT, -

To know more in details,click here