Depreciation allowance in the case of "Motor Vans"-Rate of depreciation-Clarification regarding - Income Tax - 315/1981

Depreciation allowance in the case of "Motor Vans"-Rate of depreciation-Clarification regarding Circular No. 315 Dated 24/9/1981 To All Commissioners of Income-tax. Sir, Subject : Depreciation allowance in the case of "Motor Vans"-Rate of depreciation-Clarification regarding. The Board had an occasion to consider the rate at which depreciation should be allowed in respect of "Motor Vans" as no specific rate has been provided for them under Appendix I to the Income-tax Rules, 1962. 2. The Board consider that as "Motor Vans" are more akin to "Motor Lotteries" and "Motor Buses" than to "Motor Cars", depreciation on "Motor Vans" may be allowed at the rate applicable to "Motor Lorries" and "Motor Buses" which is 30 per cent. as per item No. IIID(9) of Appendix I to the Income-tax Rules, 1962. 3. These instructions may please be brought to the notice of all the officers in your charge. Yours faithfully, (Sd.) M.K. Pandey, Secretary, Central Board of Direct Taxes.