Depreciation on furniture
This query is : Resolved
27 July 2016
Dear Sir,
I want to know that depreciation is available under income tax act on home used furniture?
I want to know that depreciation is available under income tax act on home used furniture?
27 July 2016
Depreciation is available only for those assets which are used for business purposes. Home used furniture is a personal asset and not for business purpose. Hence no depreciation would be available on the same.
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