Dear Sir
We have a proprietorship purchased Innova-four Wheeler Invoice value 1980000/- and date 19 Feb 2021. So can I Claim deprecation. if Yes how much % and how many Days.
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Innova-four Wheeler fixed assets
Replies (3)
For income tax purposes depreciation rate will be 50% as it is used for less than 180 days. Rate will be 15% * 50% is 7.5%
Thank you Sourav Sir
Your welcome
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