Depreciation of car amount from income tax of india

Hi

I am working as an Software professional in India. Can i avail the depreciation amount facility of car from income tax of india.

If so, can you tell me the procdure to do so.

Please help me on this.

Thanks,

Kundan.

Replies (7)

I am working in a MNC and i am getting montly salary, i f  i get monthly salary i cannot claim this ? Please let me know

If u are a salaried person then u can not claim the depreciation.

Thanks, Sunil.

Depreciation on motor car can be claimed only if u run ur business & profession and such vehicle is used in the said business. Salaried person cannot claim depreciation on vehicle.

yes under the head of business and profession  u r eligible for depriciation.bt u may have to take depriciation on proportionate basis by taking into consideration the presonal use of car too.

 R u being reimbursed by the company as in the form of perquisite?

no i dont have any reiumbursement from the company.

Hi Kundan.. You cannot claim depreciation on car since you are a salaried person. The only way to save tax for you is to invest in tax saving schemes upto Rs. 100,000/-

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