Depreciation

Tax planning 1193 views 7 replies

Hi Everybody

Please tell me whether a proffesional can claim depreciation in his income tax return.If not please specify the Sec or Circular or Notification or Case Law which forms its basis

          Thanks

Replies (7)

YES CLAIM

EVERYBODY CAN CLAIM DEPRECIATION

EVERYBODY CAN CLAIM DEPRECIATION

Every assessee carrying on business or profession has to claim depreciation u/s 32.

I don't what made you think that there could be a possibility of non-eligibility to depreciation for professionals!!

all the assessee wheather business man or professional must claim depriciation on the assets used in there business or profession as per explanation 5 of section 32 of income tax act.

yes u can claim


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