Depreciation claim
ABHI KUMAR (735 Points)
04 April 2021
we purchase bike for personal use can we claim depriciation in our propriter firm
6 Replies
Ankit Neema
(2742 Points)
Replied 04 April 2021
Depreciation can be only if the asset is used for business,
for personal asset depreciation cannot be claim
for personal asset depreciation cannot be claim
prasad Nilugal
(3924 Points)
Replied 04 April 2021
Also Invoice of bike should be in the name of Business , then only you can show asset (Bike) of business. in Balance sheet
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 04 April 2021
No you cannot claim depreciation on saj bike as it is used for personal use not for business purpose
Recent Topics
- Digital1234
- Unable to claim Deduction in ITR 2 u/s 80 CCD(2)
- FDI-FEMA-Interest on Loan to Mauritius based wholl
- GSTR-4 Return in composition scheme
- Income tax - Forms related
- Family Pension deduction under 57(iia) in new regi
- TAN no in ITR-2
- GST RATE ON COMPOSITION MEDICAL STORE
- Employee's contribution EPF and PPF
- How to secure AC copper wire from theft in office
Related Threads
Trending Online Classes
-
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
CA Nipun Arora03 September 2025 -
GST LIVE Certification Course - 43rd Weekdays Batch(With Govt Certificate)
Industry Expert15 September 2025
CAclubindia
