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Depreciation and interest expense on car loan
Sir/ Mam. If I am having a car on loan and having a business on proprietary firm basis then can I show the depreciation expense and interest expense as a business expense so that my personal capital is not reduced .( But I will be taking car in my personal name and not proprietary firm name )
Replies (1)
I think so no issues, distribute the expenditure according to your usage between personal and business and hence claim the deduction
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