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
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Depreciation
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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