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Dear Expert.,
We are dealer in petroleum products (i.e. running a petrol pump). We own truck and as per arrangement with the Indian Oil Corporation, freight/hire charges of carrying the petrol/diesel etc. from depot of Indian Oil to the petrol pump are to be borne by Indian Oil and we are considering it as transportation income. Now the question is whether the depreciation rate on truck used for this business will be 15% or 30%. |
