My client has just bought a new car of Rs 16 lacs in last week of March 18. He uses his car for both business as well as personal purposes. Can he claim depreciation for full year i.e. for 2017-18?
Pl. guide.
7 Replies
VishalAGARWAL
(Student)
(24 Points)
Replied 01 April 2018
For the purpose of Income Tax, you can claim 50
VishalAGARWAL
(Student)
(24 Points)
Replied 01 April 2018
You can claim only 50% of full year depreciation for the new asset
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 02 April 2018
If less than 180 days then we can claim only 50% of Depreciate value of the asset as per Income Tax Rule...
IRSHAD AHMAD
(ACCOUNTANT EXECUTIVE)
(28 Points)
Replied 02 April 2018
you can charged only 6 month depreciation in f.y. 17-18 bcoz you purchased of car after 2nd half
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