allowability of depreciation on motor car
This query is : Resolved
joshy k.g.
(Querist)
15 October 2008
I am a practicing CA and i am getting remuneration from my firm as allowed under section 40(b)
On computation of total income of mine ,interest and remuneration received from the Firm is treated as an income from business or profession.
from that income Shall I deduct depreciation on motor car used wholly for my professional purposes
On computation of total income of mine ,interest and remuneration received from the Firm is treated as an income from business or profession.
from that income Shall I deduct depreciation on motor car used wholly for my professional purposes
15 October 2008
Yes provided you have to prove before AO,if called for,that the car is not used otherwise.
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