Does Indian Income Tax act allow depreciation on assets purchased on second hand to any entity Sole proprietor, partnership.
Please guide
Jagdish Bhatt (2 Points)
02 April 2019Does Indian Income Tax act allow depreciation on assets purchased on second hand to any entity Sole proprietor, partnership.
Please guide
CA Manish Jathliya
(Professional)
(401 Points)
Replied 02 April 2019
Yes, you can Claim Depreciation on Balance life and WDV Value will be the Amount you paid to acquire that Assets.
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