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Cars used for business depreciation

Tax queries 411 views 1 replies

I have 2 cars and 1 two wheeler used for business. Can all these assets be considered under depreciation ?

Replies (1)

Well , the asset which are exclusively used for Business purpose depriciation is allowed fully @ provided in income tax .

in case asset are not exclusively used for business purpose then fair part of depriciation is disallowed .

this fair part/ proportion varies upon the use of asset . normally speaking 30% is disallowed.

YES all the above asset are eligible for depreciation but  there allowance is dependent upon the use.


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