Rate of depreciation under income tax act for new motor cars is 50%

Feb 04 2002, 00:00 IST
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that not all new vehicles purchsed between April 1, 2001 and March 31, 2002 will be entitled to the benefit of the accelerated rate of 50 per cent prescribed by clause (iid) of sub-item (2) of item III of Appendix I to the Rules.

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