Sir,
Kindly advise suppose a person purchased Innova-four Wheeler on 16 Feb 21. He has paid Rs. Eighteen Lac's via RTGS Can he pay balance payment Rs.170000 via cash and can he is eligible to Claim deprecation from 1 October 20 to March 2021.
3 Replies
Balaji.d
(81 Points)
Replied 20 February 2021
Personal purchased not claim depreciation but business purposes can claim depreciation 45 percentage financial year 2020-21 we used less then 180 days 50 percentages depreciation claimed fy claim next fy claimed balanced depreciation
Naveen Kumar
(629 Points)
Replied 21 February 2021
Sir, Can we pay balance payment via Cash We have purchased Innova for business purposes
Recent Topics
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
Related Threads
CAclubindia
