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Depreciation
What would be the treatment of the Depreciation on the car being partially used(50%) for the personal purposes and 50% for the business purposes and what wud be the WDV on which the depreciation wud be charged in next A/Y...?
Replies (1)
Hello Lakshay,
The % of car which is used fro business purpose only on that portion depreciation shall be allowed in Income Tax Act.
The WDV shall be deducted by the Depreciation aloowed thai is 50% of 15% of value of car.
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