I work as an independent consultant.
I recently bought a car entirely for official purposes( as I do a lot of travelling). I did not take any loan. Can I claim the entire car cost as business expenditure and get exemption for that amount from taxing?
Thanks for all the help this forum has been providing.
krishna
No..u cant claim whole cost as expenditure in a 1 accounting year. It is a capital expenditure, u can claim Deprciation on it @ 15%.
Regard
agredd to answer
Thanks.
Hi, I work as a Consultant for an Italian company not registered in India.
I receive a monthly Consultancy fee of 900 Euro ( 54000 INR) and my contract is for 12 months.
What kind of tax structure do I fall under?
My compensation gets wired to my savings account.
I really need some help on this.
Agree with Deepesh sir.
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