Depreciation on motor cycle
This query is : Resolved
16 February 2017
I had Purchased a Motor Cycle in 2014-15 in my personal Name. How will I show the Depreciation in Profit & Loss Account, and Balance Sheet. Will it effect my Computation Sheet.
16 February 2017
Being a proprietor u can claim it, in ur books of accounts, as proprietor and proprietorship concern is same.
16 February 2017
It will be shown in my Personal Account not in Proprietorship Firm Account. Its for my personal Use.
04 October 2021
If its for personal use, no question of depreciation deduction in IT.
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