Rates at which depreciation is admissible. Now new commercial
vehicle which is acquired on or after the 1st day of January, 2009
but before the 1st day of April, 2009 and is put to use before the
1st day of April, 2009 for the purposes of business or profession ,
will get 50% depreciation.
"Commercial vehicle" means
"heavy goods vehicle",
"heavy passenger motor vehicle",
"light motor vehicle",
"medium goods vehicle" and
"medium passenger motor vehicle"
but does not include
"maxi-cab",
"motor-cab",
"tractor " and "road-roller".
The expressions "heavy goods vehicle", "heavy passenger motor
vehicle", "light motor vehicle", "medium goods vehicle", "medium
passenger motor vehicle", "maxi-cab", "motor-cab", "tractor"
and "road-roller" shall have the meanings respectively assigned to
them in section 2 of the Motor Vehicles Act, 1988 (59 of 1988).
And the Motor Vehicles Act defines these as,
"heavy goods vehicle" means any goods carriage the gross vehicle
weight of which, or a tractor or a road - roller the unladen weight
of either of which, exceeds 12,000 kilograms;
"heavy passenger motor vehicle" means any public service vehicle or
private service vehicle or educational institution bus or omnibus
the gross vehicle weight of any of which, or a motor car the unladen
weight of which, exceeds 12,000 kilograms;
"light motor vehicle" means a transport vehicle or omnibus the gross
vehicle weight of either of which or a motor car or tractor or road -
roller the unladen weight of any of which, does not exceed 6,000
kilograms;
"medium goods vehicle" means any goods carriage other than a light
motor vehicle or a heavy goods vehicle;
"medium passenger motor vehicle" means any public service vehicle or
private service vehicle, or educational institution bus other than a
motor cycle, invalid carriage, light motor vehicle or heavy
passenger motor vehicle;
" maxicab " means any motor vehicle constructed or adapted to carry
more than six passengers, but not more than twelve passengers,
excluding the driver, for hire or reward;
"motorcab" means any motor vehicle constructed or adapted to carry
not more than six passengers excluding the driving for hire or
reward;
"tractor" means a motor vehicle which is not itself constructed to
carry any load (other than equipment used for the purpose of
propulsion); but excludes a road - roller;
And the Act does not define Road-roller.
Any way for you to get a 50 % depreciation, all you have to do is
buy that car and drive it before 1 st April 2009.
This may be a stimulus for the motor vehicle sector.
CBDT Notification NO. 10/2009 –Dated: January 19, 2009