Dereciation
This query is : Resolved
30 March 2012
is depreciation allowable on imported car acquired before 2001 ?
04 April 2012
Depreciation on imported car acquired before 2001 is allowed ONLY if it is used:
1. in a business of running it on hire for tourists ; or
2. outside India in his business or profession in another country.
In other cases, depreciation is NOT available.
1. in a business of running it on hire for tourists ; or
2. outside India in his business or profession in another country.
In other cases, depreciation is NOT available.
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