Thread Starter
#1
Hi Team,
I have recently heard that if we own a car we can claim Car Depreciation under some section in Income Tax. I googled it but was not able to get the exact details if it is possible to claim. If so can anyone let me know the process to calculate the depreciation of the vehicle and under which section in Income Tax can we claim it for Tax rebate.
Moderators please merge this thread if there is an existing thread. I was not able to find any.
Thanks in advance for your valuable feedback.
I have recently heard that if we own a car we can claim Car Depreciation under some section in Income Tax. I googled it but was not able to get the exact details if it is possible to claim. If so can anyone let me know the process to calculate the depreciation of the vehicle and under which section in Income Tax can we claim it for Tax rebate.
Moderators please merge this thread if there is an existing thread. I was not able to find any.
Thanks in advance for your valuable feedback.