Additional 15% depreciation on Motor Vehicles- No TDS on cash payments by APMCs

Addressing the concerns raised by Agriculture Produce Market Committees (APMCs), it has been decided not to levy the 2% TDS on cash payments above Rs 1 crore made through APMCs, in order to make immediate payments to farmers for their produce.

Further to the announcement made by Smt@nsitharaman on 23-08-2019, an additional 15% depreciation has been allowed on motor vehicles purchased from 23-08-2019 till 31-03-2020.

Source- Twitter Handle of NSitharamanOffice i.e.  @nsitharamanoffc