CBDT Extends Dates For Claiming Higher Depreciation Benefits on Commercial Vehicle Purchase!
April 25, 2009 by taxworry · Leave a Comment
It was reported earlier on this blog CBDT Notifies Enhanced Depreciation and Changes Due Date For Filing Quarterly Statements of TDS in Case Of Non Residents .
Now the Central Board of Direct Taxes have issued a notification vide S.O. 989(E) dated 21st April 2009 (NotificationNo.37/2009/F.No.142/01/2009-TPL) to this effect, substituting the words “1st day of April 2009”with the words “1st day of October 2009”. As per the press release by CBDT “The benefit of enhanced depreciation on commercial vehicles has been extended up to30th September 2009. Now, commercial vehicles acquired on or after 1st January 2009 and put to use before the 1st October 2009 will be eligible for depreciation at the rate of 50 percent. Earlier, the benefit was made available for commercial vehicles acquired on or after 1st January2009 and put to use before the 1st April 2009 vide a notification dated 19th January 2009.”
Is that effort of revenue department to give boost to economy?
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