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Depreciation
If a car is purchased for personal use , can v claim any percent of depreciation?
Replies (3)
No
only for business an profession
only for business an profession
No.It should be used in and for the business
Whose name the car is ? And how it is financed
is it from business fund ?
Under any such link to business or profession, you may claim depreciation and certain percentage of it you may disallow on your own as personal use.
Otherwise simply for personal use , then NO depreciation claim.
is it from business fund ?
Under any such link to business or profession, you may claim depreciation and certain percentage of it you may disallow on your own as personal use.
Otherwise simply for personal use , then NO depreciation claim.
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