Depreciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 April 2014 I am a retired person , having pension income. My total taxable income for f.y.2013-14 is going to be beyond the tax exemption limit. The total taxable income, after all taxfree investment u/s 80 c , is 2,08,768. ( I am male.)

Can I take deduction regarding the depreciation on my bike, telivision, refrigerator, and furniture ?

I have not calculated or claimed any depreciation on any of these assets, in any of the previous i.t.returns.
And I have not bills/invoices of. furnitures.

What should i do? Please,help.

Rupesh Jain

Rupesh Jain (Expert)
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15 April 2014 under pension income or business income

you cannot claim the depreciation .

under business only available if you are using for business purposes.

Querist : Anonymous

Querist : Anonymous (Querist)

15 April 2014 it means..that whatever. total income i get in the f.year, tax is to be paid on that whole amount, without deducting. my any expense from it. ( to the extent it is beyond exemption limit) No any type of deduction of depreciation is available to the salaried or pension based person.

Is it like that?

Querist : Anonymous

Querist : Anonymous (Querist)

Rupesh Jain

Rupesh Jain (Expert)
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15 April 2014 no deduction allowed

Querist : Anonymous

Querist : Anonymous (Querist)

15 April 2014 thank you Mr. Rupesh Jain.

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