Hi Everybody
Please tell me whether a proffesional can claim depreciation in his income tax return.If not please specify the Sec or Circular or Notification or Case Law which forms its basis
Thanks
PRANAV MISHRA (CA Final student) (573 Points)
12 November 2008Hi Everybody
Please tell me whether a proffesional can claim depreciation in his income tax return.If not please specify the Sec or Circular or Notification or Case Law which forms its basis
Thanks
CA Abhash Mishra
(Chartered Accountants)
(598 Points)
Replied 12 November 2008
EVERYBODY CAN CLAIM DEPRECIATION
CA Abhash Mishra
(Chartered Accountants)
(598 Points)
Replied 12 November 2008
EVERYBODY CAN CLAIM DEPRECIATION
CA Chaitanya
(PRACTISING CA)
(4283 Points)
Replied 12 November 2008
Every assessee carrying on business or profession has to claim depreciation u/s 32.
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 12 November 2008
I don't what made you think that there could be a possibility of non-eligibility to depreciation for professionals!!