Salaried person buy new car then any benefit avail for depre
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 September 2014
if salaried person buy new car then any benefit avail for depreciation and interest on car loan
03 September 2014
No, these expenses are not allowed to deduct from salary income.
No, these expenses are not allowed to deduct from salary income.
Message likes :
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Querist : Anonymous
Querist :
Anonymous
(Querist)
04 September 2014
yes , but its deductable under any other income?
04 September 2014
It is deductible from income under the head 'Business & Profession' and income from 'Other Sources'
But one shall be able to prove / justify that these expenses are incurred to earn the said income (i.e. PGBP or Other sources)
But one shall be able to prove / justify that these expenses are incurred to earn the said income (i.e. PGBP or Other sources)
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