Can income tax depreciation be claimed on above mentioned things if kept exclusively in office or used exclusively for office purpose? do office purpose need to be proved? Is there any way to claim depreciation or any case law to refrain from same? What is the common practice in industry?
Menu
Can depreciation be claimed on luxury watches or apparels used in office?
Replies (3)
Quick Summary
It depends upon the business and whether you can substantiate that these were used for the purpose of business. The claim for depreciation is allowed if it can be shown that the asset is put to use for the Company's business
Hi everyone,
I’m curious if anyone here has experience with rolex submariner replica watches in an office environment. Would it be possible to claim depreciation if such a watch is used exclusively for business purposes, like as part of a uniform or for representing the company image? Any insights would be appreciated!
Hi Kritika
Answer is LOL
What is LOL?
Expanded version is:-
Lough Out Loud
Make it Very Loud
Recent Topics :
- 12A registration expired in FY 22-23 and is not re
- Seeking Clarification on Business Code Selection a
- CG on property sold after construction of a house
- Nursing Home Taxability
- CA opted for Form 10IEA mistakenly - Demand raised
- Query on scenario related to FAST DS 2026
- Audit Executive (Remote, India) - Ace Auditing Off
- GST Transaction On Used Clothing
- ITC availed on 5%-rate passenger transport (AC bus
- Extension of Due Date of AY 2026-27
Related Topics :
ARTICLESHIP
07 September 2026
CA Articles
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
View Details
ARTICLESHIP
04 September 2026
Accounts Executive
Hema Yashwanth & Associates
Chennai
B.Com
View Details
ARTICLESHIP
15 September 2026
Freelance Taxation Content Writer Intern
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
CCI
Pro
CAclubindia
