Second hand car
This query is : Resolved
03 November 2013
dear sir
assesse purchase a second hand car of Rs 65000 and used for business, can he get depreciation and what is the value show in balance sheet Rs 65000 or original cost? please clear to me. thanks.........
assesse purchase a second hand car of Rs 65000 and used for business, can he get depreciation and what is the value show in balance sheet Rs 65000 or original cost? please clear to me. thanks.........
03 November 2013
It will shown in first year at cost of rs 65,000 then dep will be charged at end of year1.
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03 November 2013
Agree with Expert,
Yes you can claim depreciation on ur aquisition cost...
Yes you can claim depreciation on ur aquisition cost...
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