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I am getting income through rental only . I have purchased a car through loan can i get deduction for the interest paid and depreciation of car in the taxable income .
if yes under which section interest and depreciation is deducted.
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Car loan
Replies (1)
Deduction on account of interest on car loan and depreciation can be claimed only if such car is used for business/profession purpose. If not, then expense is of personal nature and hence no deduction.
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