Depreciation

This query is : Resolved

Naresh Kumar Roy (Querist)
Follow

15 July 2010 We have purchased a car in FY 2009-10. Bill is dated 30.03.2010 but registraton of car has been done in April 2010.

Please advise whether we can claim depreciation on the basis of bill.

Naresh Kumar Roy

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

15 July 2010 Since the asset is put to use in April 2010 only, depreciation cannot be claimed as per bill date.

mohinder kansal

mohinder kansal (Expert)
Follow

15 July 2010 IF YOU PROVE THAT THE CAR WAS PUT TO USE ON 30TH MARCH ITSELF, DEPRECIATION SHALL BE ALLOWABLE AS PER PROVSION OF THE LAW. DATE OF REGN. DOES NOT MATTER. IN SOME STATES IT TAKES A LONG TIME TO GET THE VEHILCE REGISTERED.

Upgrade to CAclubindia Pro. Subscribe Now!