Depreciation on working partners salary
This query is : Resolved
31 March 2012
S ir
Whether a partner can claim depreciation for Motor car used for business purpose from working partners salary while computing the partner's persanal income tax.If yes conditions?, if any
Rgds
Whether a partner can claim depreciation for Motor car used for business purpose from working partners salary while computing the partner's persanal income tax.If yes conditions?, if any
Rgds
31 March 2012
Yes if genuinely this is used for business purpose, because salary to partner is treated as a business income in the hand of partner
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