Depreciation on mobile phone as business expense for self employed

Vikas Aroura (24 Points)

16 February 2020  

Dear experts,

                      i am self employed gst registered businessman.Me and my wife are partners in the business firm.My query is

Last year we bought a samsung mobile phone for business use amount rs 96,500

this year we want to buy a new apple iphone for the business use rs 98,750

we are getting rs 30,000 for the samsung phone in exchange so my initial purchase was rs 96,500 and i am getting rs 30,000 for it so can this difference amount of rs 66,500 be claimed as depreciation and set off as business expense.

Is it worth buying the the iphone or its just a loss to upgrade,if any income tax benefit is there for self employed then will consider buying the new iphone

Similar query is for car

has bought a honda car in 2017 rs 9.5 lacs

if i sell it now i am getting a value of approx 5.5 lacs so can this 4 lacs be taken as depreciation benefit and can i think of upgrading to a better car

Please let me know,thanks