Depreciation

This query is : Resolved 
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(Querist)
25 November 2013 Dear Sir,

I am a Sole Proprietor and gifted a car to my son. can i claim depreciation in my accounts (Balance sheet)
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
25 November 2013 if the car is in your name then you can claim depreciation.
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Fahim

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Fahim (Querist)
26 November 2013 Sir, If the car is in my son name and payment done me than?
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Fahim

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Fahim (Querist)
26 November 2013 Sir, If the car is in my son name and payment done by me than?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
26 November 2013 Then you can not claim depreciation.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
26 November 2013 only the legal and beneficial owner can claim dep.
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