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
Menu
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
Recent Threads
- Income Tax filing returns
- What is the current situation of the global vegeta
- Pan Card - Change of record
- IND AS 116 / IFRS 16: The standard that changed th
- Closure of first level step down subsidiary in Mau
- E way bill for rejected and re sold goods.
- Supporting Documents Required for GST Notice on Cr
- Exporting USA made goods from India Back - Applica
- Foreign Dividend earn
- TDS on Salary deducted but not paid by the employe
Related Threads
CAclubindia
