Depreciation
This query is : Resolved
27 June 2015
A proprietor bought second hand car in 2014. How much percent depreciation calculate on it?
CA. Sunil Gokhale
(Expert)
27 June 2015
15% depreciation on WDV basis can be claimed as for tax purpose. To claim full depreciation in the first year the car should have been used for at least 180 days in the financial year. That is, he should have bought the car on or before 2nd October, 2014. If it was purchased after this date then he can claim only half the depreciation for 2014-15.
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