Depreciation on motor car
This query is : Resolved
04 September 2015
if company purchase a car in the month of Oct.-15 half yearly depreciation get or full year kindly clarify.
06 September 2015
As per the Income Tax Act, you can avail half year depreciation for any asset purchased after 30th Sep of that FY. In in your case, for the car to be purchased in Oct-15, you can claim half year depreciation only.
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