Accountancy Forum

Full Version: Depreciation on vehicles
You're currently viewing a stripped down version of our content. View the full version with proper formatting.
A question that is bothering me...

"Eligible Depreciable Asset" includes only "road transport vehicles plying for hire".....and those vechicles are eligible for initial allowance. I have sorted out the phrase plying for hire and for anyone who doesnt know it....it is those vehicles that are available for hiring to the general public, like Taxis, public buses, trains etc etc. But what is Road Transport Vehicle....Does this phrase refer to any specific class of assets, like buses etc or it includes all vehicles including cars???

The other question is...Section 22 restricts the cost of "Pessenger Transport Vehicle not plying for hire" to 1.5 million. Does this inlcude all vehicles possessed by a Company, cars, wagons, cars given to employees, directors etc, buses used for distribution, trucks, etc etc etc

Any one please clarify...