Menu
Motor car depreciation
if a motor car is given out for repair for three months in a year then depreciation is charged for 9 months or 3 months.
Replies (3)
Quick Summary
Depreciation on car required to be charged for full year....it's not on basis of how much you used in a year.
Yes depreciation can be claimed for the full year.
Depreciation for cars means a reduction in the value of the cars throughout their life; the depreciation rate is very high for new cars and may be different for each model. In the first year, a car may suffer a decrease of about 10 percent, and the decrease in value increases yearly. On average, most of the car’s value is lost in five years, and a nominal scrap value is left.
Recent Topics :
- Capital Gain on sale of Depreciated Factory Gala
- Interesting Observation from a Recent Income Tax S
- ITR 3 Utility Not Taking Marginal Relief on Net To
- MV Electrosystems IPO Allotment Date, Status Check
- TDS payment code query
- Query on FLAIR return
- Itr 4 problem
- Capital Gains Mismatch Due to Sale Agreement in FY
- REGARDING NRO INVESTMENT IN SHARES OF DOMESTIC COM
- DTAA benefits
Related Topics :
CAclubindia
