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Depreciation

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(Querist)
13 June 2009 If a partner own a car in its own(personal) name. can he claim depreciation on that car in his firm?
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CA Anisha Ray

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CA Anisha Ray (Expert)
13 June 2009 If the car is used for Business purposes and this can be proved, Depreciation can be claimed.
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CA. Gurdeep Singh Chawla

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CA. Gurdeep Singh Chawla (Expert)
13 June 2009 yes



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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
13 June 2009 Depreciation can be claimed by firm.

Citation:-Mohamed Bux Shokat Ali 256 ITR 355(Raj).
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
14 June 2009 Provided the amount for purchase of car has been paid by the firm.

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