Depreciation
This query is : Resolved
15 July 2010
We have purchased a car in FY 2009-10. Bill is dated 30.03.2010 but registraton of car has been done in April 2010.
Please advise whether we can claim depreciation on the basis of bill.
Naresh Kumar Roy
Please advise whether we can claim depreciation on the basis of bill.
Naresh Kumar Roy
15 July 2010
Since the asset is put to use in April 2010 only, depreciation cannot be claimed as per bill date.
15 July 2010
IF YOU PROVE THAT THE CAR WAS PUT TO USE ON 30TH MARCH ITSELF, DEPRECIATION SHALL BE ALLOWABLE AS PER PROVSION OF THE LAW. DATE OF REGN. DOES NOT MATTER. IN SOME STATES IT TAKES A LONG TIME TO GET THE VEHILCE REGISTERED.
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