Income-tax (9th Amendment) Rules, 2019 - Additional depreciation on motor cars and motor vehicles shall be allowed in certain conditions.

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..... 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 commence .....

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..... 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); 15 (ii) Motor cars, other than those used in a business of running them on hire, acquired on or after the 23rd day of August, 2019 but before the 1 st day of April, 2020 and is put to use before the 1 s .....

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..... st day of April, 2020 and is put to use before the 1 st day of April, 2020. 45 . [F.No. 370142/17/2019-TPL] SAURABH GUPTA, Under Secy. (Tax Policy Legislation Division) Explanatory Memorandum: It is certified that no person is being adversely affected by giving retrospective effect to this notification. .....

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