HI,
I AM GETTING MIXED RESPONSE FROM CHARTERED ACCOUNTS AROUND ME , REGARDING CLAIMING OF HALF DEPRECIATION ON CAR PURCHASED IN MARCH. SOME ARE SAYING , I CAN'T CLAIM AT ALL, SOME HAVE SAID I CAN CLAIM HALF.
CAN SOMEONE HELP IN THIS REGARD,
THANKS
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Depreciation on car purchased in march
Replies (3)
If car is put to used then you can claim half depreciation though purchase is made in month of March
Hi mayank,
As per Income Tax Act 1961 sec 32 ,you can claim half depreciation if assets has been used less than 180 days in the previous year.
So , u can claim accordingly.
thanks
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