Hi,
I am a consultant for two inclusion companies one located in Delhi and Chennai and purchased a new car recently ( 6/11/09) and using exclusively for profession. Please let me know how much % can I claim under depreciation.
Please also let me know whether I can claim petrol/driver expenses, interest on car loan and my airfright charges visiting chennai twice a month for consultancy can be deducted from the consultancy fee shown as income?
I understand reasonable expenses under these heads can be claimed for deduction.
What is reasonable and if actual expenses are more than reasonable what I have to do.