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If personal asset is used in business, then is notional depreciation deductable?

1 reply, 2 voices Last updated by  Akash Rohada 2 months, 3 weeks ago
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  • #3165

    Yash tichukale
    Participant
    @y@sh123

    If personal asset is used in business, then is notional depreciation deductable?

    #3171

    Akash Rohada
    Participant
    @Akashv__

    As prescribed in sec 43(1) If personal asset in use in business in proprietorship then it will be possible to claim deprecation.However, in case of partnership firm no depreciation will be allowed.

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