Depreciation claim

ABHI KUMAR (679 Points)

04 April 2021

we purchase bike for personal use can we claim depriciation in our propriter firm

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6 Replies

Ankit Neema (2742 Points)
Replied 04 April 2021

Depreciation can be only if the asset is used for business,
for personal asset depreciation cannot be claim

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prasad Nilugal (3914 Points)
Replied 04 April 2021

Also Invoice of bike should be in the name of Business , then only you can show asset (Bike) of business. in Balance sheet

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 04 April 2021

No you cannot claim depreciation on saj bike as it is used for personal use not for business purpose

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ABHI KUMAR (679 Points)
Replied 04 April 2021

Its show as a drawing nd bike in properitor firm

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 04 April 2021

No you can't claim

ABHI KUMAR (679 Points)
Replied 04 April 2021

Thanks to all

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