Depreciation claim
ABHI KUMAR (710 Points)
04 April 2021
we purchase bike for personal use can we claim depriciation in our propriter firm
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
for personal asset depreciation cannot be claim
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
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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