Whether individual can claim depreciation??
This query is : Resolved
Guest
Guest
(Querist)
02 June 2010
1. Can any one tell me whether individual claim Depreciation on Fixed Assets in his books of Accounts??
2. Can individual Deduct Tds while making Payment to other individual?
2. Can individual Deduct Tds while making Payment to other individual?
02 June 2010
Depreciation is not for individual, it is for business.
Individual also should deduct TDS, if his business is under tax audit purview.
Individual also should deduct TDS, if his business is under tax audit purview.
02 June 2010
If the fixed assets is used for business purposes, he can claim depreciation
If he is covered under tax audit in the last financial year, then he has to deduct TDS immediately from the next financial year.
If he is covered under tax audit in the last financial year, then he has to deduct TDS immediately from the next financial year.
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