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Depreciation allowed against car hiring income?

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 August 2015 An NRI has car hiring income. Is depreciation allowed as an expense against car hiring in income tax act?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
01 August 2015 Yes depreciation is an allowable expenditure on car hiring.

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