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Regarding Income

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accountant
564 Points Posted on 18 May 2020
RESPECTED ALL MEMBERS
MENE MERE FRIEND KE NAME SE VEHICLE LOAN PE LIYA HE AB VO LOAN KI PAYMENT ME KARTA HU AUR BUSSINESS KE LIYE USE KARTA HU (GOODS DELIVERY BUSINESS)
SO AB ME DEPRICIATION AUR INCOME ME RETURN ME APNE NAME SE SHOW KAR SAKTA HU
PLEASE SUGGEST ME
THANK U IN ADVANCE...
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On 18 May 2020 at 20:36 Report
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Confidential
177 Points Posted on 18 May 2020
No u can't take depreciation became u are not owner for taking depreciation ownership is must
2 Reply
On 18 May 2020 at 20:45
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837 Points Posted on 18 May 2020
As per section 32 of the Act, ownership is a pre requisite for claiming depreciation.Hence, you will not be able to claim depreciation on vehicle in your Return Of Income.
3 Reply
On 18 May 2020 at 21:28
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Profession Business
28196 Points Posted on 19 May 2020
Provided you are running any business...
44 Reply
On 19 May 2020 at 09:13


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