Depreciation

This query is : Resolved

Mahendra Singh Rao (Querist)
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26 March 2016 Sir one of my client is a salary income & during previous year he purchased a moter cycle & he have no business income whether he claim depreciation & shown as a loss under the business & profession

PRADEEP KUMAR VATS

PRADEEP KUMAR VATS (Expert)
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26 March 2016 Dear

You can't avail the benefit of depreciation.

Regards
Pradeep

CA SUNIL K GARG

CA SUNIL K GARG (Expert)
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26 March 2016 The said motor cycle is not used in any business & profession. Thus, no depreciation can be claimed by showing a loss under head business & profession.
if motor cycle is used in running a business, then depreciation @ 15% can be claimed as expense in Profit & Loss account.

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