New Income Tax Depreciation Rates for Motor Vehicles : CBDT Notification No 69 /2019

By | September 22, 2019
(Last Updated On: September 22, 2019)

New Income Tax Depreciation Rates for Motor Vehicles

The Central Board of Direct Taxes (CBDT) has notified new depreciation 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.

Video Explanation of  New Income Tax Depreciation Rates for Motor Vehicles

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION
New Delhi, the 20th September, 2019

(Income-tax)

[Notification No. 69 /2019 / F.No. 370142/17/2019-TPL]

Download Complete Notification : Click here

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