Dep on car
This query is : Resolved
20 December 2011
I am a sole propritor there is one car I have, which is use for both use for buiness as well as house work. how dep will be charge on it according to what provision of income tax. and pls give me some reference case law in this regard
thank. pls reply as soon as possible
thank. pls reply as soon as possible
21 December 2011
DEPRECIATION IS ALLOWABLE ONLY IF ASSET IS USED FOR BUSINESS. IN CASE OF COMPOSITE USE U MAY SELF DISALLOW A PART OF DEPRECIATUION SAY 20 PERCENT OR SO AS PER USE FOR PERSONAL PURPOSES
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- Rental income of jointly held property
- Accounting with Claude
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
