for Depriciation purpose, in case of motor car, if it is purchase before year end i.e. 30 march 2013. and registration and insurance charges are done in next year. can we claim depreciation . give me sec ref also. put to use is before Registration ya after Registration.
let me know if depreciation can be claimed what cost should be added?
Dear Friend
AS per AS-6 u can claim Dep. on 31-Mar. on motor cost amount (with out including Insurance Charges)
As per IT ACt. U can claim Dep. U/s 32 for 6 month on mator cost
Since a car cannot ply on road without registration and insurance.., the asset is not yet put to use. so you cannot claim depreciation on it...
Seniors correct me if i m wrong...!!!
As per As -6 If u Purchase Fix asset Than Claim Dep. Even IF in that Year U can't put to use.
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