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Direct Taxation

If motor car is used for hire business, then what is depreciation rate?

Banda Veeresh

CA Inter

★ 35K+

19-Dec-20 07:49

343

Answers (3)

Purchase date?

CA Suraj Lakhotia

Admin

19-Dec-20 16:22

I got this doubt while I was reading theory

Thread Starter

Banda Veeresh

CA Inter

★ 35K+

19-Dec-20 19:34

Thread Starter

Banda Veeresh

I got this doubt while I was reading theory

The rate of 30% on motor cars (other than those used in a business of running them on hire) & 45% on Motor buses, motor lorries and motor taxis used in a business of running them on hire. Such vehicles should have been acquired on or after 23-08-2019 but before 01-04-2020 and are put to use before the 01-04-2020. Other cases 15% and 30% respectively.

CA Suraj Lakhotia

Admin

22-Dec-20 06:29