CAN WE CLAIM DEPRECIATION OF PERSONAL CAR FROM THE INCOME OF THE PARTNERSHIP FIRM I.E INTEREST, REMUNERATION & PROFIT.
CAN WE CLAIM DEPRECIATION OF PERSONAL CAR FROM THE INCOME OF THE PARTNERSHIP FIRM I.E INTEREST, REMUNERATION & PROFIT.
if car is recorded in firm's books at the time of purchase then you can claim Depreciation on such car.
NO YOU CAN NOT CLAIM DEPRECIATION AGAINST REMUNERATION RECEVED FROM PARTNERSHIP FIRM
If the Car has been booked in books of accounts atttime of Purchase depreciation can be claimed however it has no relation with Remmuneration OR Interest
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