Suppose an individual is earning income by way of Teaching tuitions and coaching, but his Income is Below Basic Exemption limit of Rs 200000. That person has one Motorcycle which he does not use for teaching since he teachs at his own home.
Will that individual get Deduction for depreciation on motorcycle since it is his personal asset?
If we have to show that asset and depreciation amount in ITR then where we have to show it in ITR 4?
CAclubindia
