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purchase of used car for a partnership concern

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(Querist)
28 July 2010 we are planning to purchase a second hand car in our partnership concern, can we avail depreciaion and what is the present rate of deprectiation. The value of the car is being negoatioted for
Rs. 4 lakhs. kind let us know
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
28 July 2010 If the same is going to be used for business purpose then depreciation @ 15% will be allowed on the same.
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srinath

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srinath (Expert)
28 July 2010 agreed with adityaji
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