Can I claim the expense of devices (iPad, mobile) as business expense

General
1

I am doing only F&O, I don’t have any salary. So can I claim the expenses of buying devices, which I am using for trading (iPad, iphone)?

2

Hello Trader,

You can write off depreciation for your trading tools.

For the corresponding rates for your mobile phones and tablets if used as a trading hardware:

Visit: http://www.incometaxindia.gov.in/Pages/charts-and-tables.aspx

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3

Thanks. From the link it is mentioned that computers (hardware & software) depreciation is 60%. So if I bought a computer worth 1lakh, I can claim 60k as a cost of depreciation. Next year 60% of 40k will be used as depreciation. Is that right?

4

Depreciation on Cost. You can write off upto 60% of cost this year, and the the whole of remaining 40% of cost next year.

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5

Have a further question… Is write off possible in case of Investor also (LTCG, STCG) ? or only in case of Trader (who gets audited) ?
thanks