Allowance of depreciation on motor vehicles owned and used by tour operators and travel agents in the business of running these vehicles on hire for tourists

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..... culars - Income Tax - Allowance of depreciation on motor vehicles owned and used by tour operators and travel agents in the business of running these vehicles on hire for tourists Circular No. 6 .....

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..... [1991] 190 ITR (St.) 323), the rate of depreciation in sub-item (2)(ii) of item III of Appendix I to the Income-tax Rules, 1962, has been changed to 40 per cent. from the earlier figure of 50 per cent .....

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