depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 September 2010
A car is owned a partner and he is earned income from his firm only.Car is valued at fixed assets in his firm.
Can avail depreciation for car in firm and expenses also?.
Can avail depreciation for car in firm and expenses also?.
24 September 2010
If car is the asset in the name of firm, the assessee can claim depreciation and running & maintenance expenses in the firm
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