About depreciation
This query is : Resolved
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.
29 October 2015
No he can't claim depreciation on car in the return to be filed.
29 October 2015
why sir please give me the clarification regarding this quary
29 October 2015
Only from business or professional income depreciation can be claimed.
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