Date of Purchase for higher rate of depreciation on Purchase of Commercial Vehicle extended to 30th September 2009
Income-tax (Eleventh Amendment) Rules, 2009 – Amendment in New Appendix 1
NOTIFICATION NO. 37/2009 [F.No.142/01/2009-TPL], DATED 21-4-2009
In exercise of the powers conferred by section 295 of the Income -tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules 1962. Namely:–
1. (1) These rules may be called the Income-tax (Eleventh Amendment) Rules, 2009.
(2) They shall come into force with effect from the 1st day of April, 2010.
2. In the Income-tax Rules, 1962, in the Table to New Appendix 1, in Part-A relating TANGIBLE ASSETS, under the heading III, MACHINERY AND PLANT, in sub-item (via) of item (3), for the words and figures “1st day of April, 2009”, the words and figures “1st day of October, 2009” shall be substituted at both the places.
So rate of Depreciation for financial year 2009-100 on commercial Vehicles will be as follows:-
(if purchased between 01.04.2009 to 30.09.2009)
(if purchased after
30th September 2009)
|Commercial Vehicle||50%||50% of 30%|