FIXED ASSET DEPRECIATION CLAIM
This query is : Resolved
Quick Summary
13 November 2021
If someone had purchased fixed asset on credit and defaults in making the payment of fixed asset payment . still he is able to claim the depreciation and what is the treatment in income tax
CA R SEETHARAMAN
(Expert)
13 November 2021
Yes, still he is able to claim the depreciation
13 November 2021
Any individual who is not carrying any business , can he claim depreciation on personal assets like building , car , and any other personal assets
CA R SEETHARAMAN
(Expert)
13 November 2021
No, he can't claim depreciation on personal assets.
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