Partnership Accounts

unless he does not have any commercial use of the car, depriciation can not be allowed.

Thank you Sir,

One more thing, He has purchased the car out of his own funds and it has been registered in his name only, he use car for Business purpose too.  Can he claim depreciation as a partner of Partnership firm.

• no, the car has been his personal effect now !! as like cloths watches jewelary etc. 
• if he want to avail depreciation then ask him to introduce the car to partnership firm by introducing fresh capital to the tune of car value and shift the car to balance sheet of firm, 
• this way he can enjoy the depriciation , car maintanance etc without any real change !!

Well Thanks a lot for your valuable information.

Regards,

Krishna