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

Income Tax vide Notification no. 69/2019 dated 20th September, 2019 the Central Board of Direct Taxes, makes the following rules to further amend the Income-tax Rules, 1962 by changing Depreciation rates for  motor cars, motor buses, motor lorries and motor taxies. Changed depreciation rates are as follows:

Block of assets Depreciation allowed as per %tage of WDV
(i) 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); 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 1st day of April, 2020 and is put to use before the 1st day of April, 2020 30
(iii) Motor buses, motor lorries and motor taxis used in a business of running them on hire other than those covered under entry (iv). 30
(iv) Motor buses, motor lorries and motor taxis used in a business of running them on hire, acquired on or after the 23rd day of August, 2019 but before the 1st day of April, 2020 and is put to use before the 1st day of April, 2020. 45

https://www.incometaxindia.gov.in/communications/notification/notification_69_2019.pdf

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