Govt. notifies new Depreciation Rates of 30% & 45% on vehicles purchased between 23-08-2019 to 31-03-2020 [Read Notification]
![Govt. notifies new Depreciation Rates of 30% & 45% on vehicles purchased between 23-08-2019 to 31-03-2020 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2017/08/Depreciation-Taxscan.jpg "Govt. notifies new Depreciation Rates of 30% & 45% on vehicles purchased between 23-08-2019 to 31-03-2020 [Read Notification]")
The Central Board of Direct Taxes ( CBDT ) has notified new depreciation rates of 30% and 45 on vehicles purchased between 23.08.2019 to 31.03.2020. The rates of 15% is applicable on Motor cars, other than those used in a business of running them on hire, acquired or put to use on or after the 1st day of April, 1990 except those covered under entry (ii); The rate of 30% on motor cars (other...
The Central Board of Direct Taxes ( CBDT ) has notified new depreciation rates of 30% and 45 on vehicles purchased between 23.08.2019 to 31.03.2020.
The rates of 15% is applicable on Motor cars, other than those used in a business of running them on hire, acquired or put to use on or after the 1st day of April, 1990 except those covered under entry (ii);
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.
It is also applicable on Motor buses, motor lorries and motor taxis used in a business of running them on hire other than those covered under entry (b).
To Read the full text of the Notification CLICK HERE