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FIXED ASSET DEPRECIATION CLAIM

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(Querist)
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
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
13 November 2021 Yes, still he is able to claim the depreciation
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RAKESH

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RAKESH (Querist)
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
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
13 November 2021 No, he can't claim depreciation on personal assets.
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