Depreciation on Motor car
This query is : Resolved
vimal thakkar
(Querist)
02 May 2009
How can i claim Depreciation on Motor car if it is registered in the name of Director ? can u give me the section details or any circular
C.A.Javid Patel
(Expert)
02 May 2009
If the car is in the name of director then also you can claim the deprecation but you should write a note on below the schedules.
CA Nitin Wadhwani
(Expert)
03 May 2009
I think depreciation will not be allowed unless the car is registered in the name of the company since depreciation is allowed to registered legal owner.
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