Depreciation
This query is : Resolved
05 August 2011
sir, i am ramesh, i am partner of firm. I received interest on capital and salary as per incometax act 40 (b)400000/-. no other income of this year. and i have purchase of new car and two wheeler . if depreciation on car is adjusted as above income.
05 August 2011
yes you can claim the the expenses against above income
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