I have 2 cars and 1 two wheeler used for business. Can all these assets be considered under depreciation ?
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Cars used for business depreciation
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Well , the asset which are exclusively used for Business purpose depriciation is allowed fully @ provided in income tax .
in case asset are not exclusively used for business purpose then fair part of depriciation is disallowed .
this fair part/ proportion varies upon the use of asset . normally speaking 30% is disallowed.
YES all the above asset are eligible for depreciation but there allowance is dependent upon the use.
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