Deprecaiations
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 September 2011
Dear Freinds ,
My son is a pg doctor in neuclear medicin
he recently joined a dignostic centre and getting amounts as frofessional fee in monthly basis by hospitals . he is using his own car purchased in his own name , whether depreciations of car may be deducted form reciepts in return.
please advise us about other deductions could be allowed like house rent , etc.
with regards
d.p.rai advocate
My son is a pg doctor in neuclear medicin
he recently joined a dignostic centre and getting amounts as frofessional fee in monthly basis by hospitals . he is using his own car purchased in his own name , whether depreciations of car may be deducted form reciepts in return.
please advise us about other deductions could be allowed like house rent , etc.
with regards
d.p.rai advocate
19 September 2011
Dear Mr Raj,
Professionals like you (Advocates) who are independent and are rendering Professional Services to their clients may claim depreciation for the the Assets used including Vehicles. However, if it is proved that the said person is in service with some-one and getting fixed monthly remuneration will not be entitled for depreciation. He may claim conveyance allowance up to Rs 800/= per month for his travelling expenses.
Professionals like you (Advocates) who are independent and are rendering Professional Services to their clients may claim depreciation for the the Assets used including Vehicles. However, if it is proved that the said person is in service with some-one and getting fixed monthly remuneration will not be entitled for depreciation. He may claim conveyance allowance up to Rs 800/= per month for his travelling expenses.
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