About depreciation
This query is : Resolved
G Vijaya Kumar
(Querist)
29 October 2015
Hi Mr. A had a Fixed Deposit of Rs. 10 crores he earns interest from it. (No other Income earned by A, only Interest from FD). He was filed his IT regularly & he can purchased a car. Can he claim a depreciation on the car at the time of filing of Return.
CA R SEETHARAMAN
(Expert)
29 October 2015
No he can't claim depreciation on car in the return to be filed.
G Vijaya Kumar
(Querist)
29 October 2015
why sir please give me the clarification regarding this quary
CA R SEETHARAMAN
(Expert)
29 October 2015
Only from business or professional income depreciation can be claimed.
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