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depreciation, Income Tax |
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depreciation |
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sir we have hired tippper & receive hire charges & same is taxed as business income. what rate of dep. allowable-: 1. nornal rate ie 15% under plant & machinery or 2.motor buses motor lorries used in business of running them on hire - 30% ---- can tippers be classified as motor lorries???? also suggest relevant latest case laws
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The Tippers, Vibrators and Vibrators soil compactors are commercial vehicle eligible for higher rate of depreciation @ 30% You may visit the below case law
sir actually we have given tippers on hire & hire charges r received. then also can we claim deprciation under commercial vehicle ?? or under motor vehicles lorries given on hire & hiring is business os assessee??
Of course, if the tippers are given and hiring charges is being recd, you would be entiled for higher depreciation. Page: 1 Old Query - New Comments are closed. |
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