Depreciation
This query is : Resolved
26 March 2016
Sir one of my client is a salary income & during previous year he purchased a moter cycle & he have no business income whether he claim depreciation & shown as a loss under the business & profession
26 March 2016
Dear
You can't avail the benefit of depreciation.
Regards
Pradeep
You can't avail the benefit of depreciation.
Regards
Pradeep
26 March 2016
The said motor cycle is not used in any business & profession. Thus, no depreciation can be claimed by showing a loss under head business & profession.
if motor cycle is used in running a business, then depreciation @ 15% can be claimed as expense in Profit & Loss account.
if motor cycle is used in running a business, then depreciation @ 15% can be claimed as expense in Profit & Loss account.
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