Fixed asset
Sharath STARK (Articleship) (25 Points)
17 August 2016Sharath STARK (Articleship) (25 Points)
17 August 2016
ajay
(Student)
(178 Points)
Replied 17 August 2016
Dear sharat,
As far as i know the individual can claim depreciation on the mobile phone provided it has been used for the purpose of business.
As per income tax act the mobile will be treated as plant and machinery and he can claim depreciation @ 15% pa