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Depreciation on furniture

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(Querist)
27 July 2016 Dear Sir,

I want to know that depreciation is available under income tax act on home used furniture?
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Ruchi

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Ruchi (Expert)
27 July 2016 Depreciation is available only for those assets which are used for business purposes. Home used furniture is a personal asset and not for business purpose. Hence no depreciation would be available on the same.

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