Depreciation pgbp
This query is : Resolved
15 June 2013
if i acquire an asset on hire purchase will i be able to claim depreciation on it.. i haven't incurred any capital expenditure on it... i merely pay the installments.. so will i be allowed depreciation on it under section 32 ?
Guest
Guest
(Expert)
15 June 2013
In case of hire :
Payment on account of cost of the asset shall be entitled for depreciation in the hands of assessee.
Payment on account of cost of the asset shall be entitled for depreciation in the hands of assessee.
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