Additional 15% depreciation proposed on motor vehicles by MOF

Additional 15% depreciation proposed on motor vehicles by MOF

The Finance Minister Nirmala Sitharaman has announced a hike in depreciation benefit on all vehicles.

An additional 15% depreciation has been allowed on motor vehicles purchased from 23-08-2019 till 31-03-2020. This move has been taken to give a boost to Automobile sector by driving sales.

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