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Second hand car

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(Querist)
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.........
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
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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CA Pallav Singhania

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CA Pallav Singhania (Expert)
03 November 2013 Agree with Expert,

Yes you can claim depreciation on ur aquisition cost...
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