CAN DEPRECIATION BE TAKEN PROPORTIONATELY
This query is : Resolved
13 April 2010
Hi,
Can anyone answer whether Depreciation by Assessee can be claimed when it is dissolved in middle of the financial year.
Ex. A partnership firm is dissolved in the month of Jan can dep can be claimed of proportionate date.
Can anyone answer whether Depreciation by Assessee can be claimed when it is dissolved in middle of the financial year.
Ex. A partnership firm is dissolved in the month of Jan can dep can be claimed of proportionate date.
13 April 2010
if there is a succession of the partnership firm or transfer, then depreciation can be claimed proportionately based on number of days, else deprecition can be claimed for the full year
13 April 2010
From tax point of view,,,
Depreciation can be claimed propertionately in following cases :-
1) Conversion of Sole proprietor into co.
2) Conversion of partnership into co.
3) Merger or demerger
4) Amalgamation
etc..
Thankz
Depreciation can be claimed propertionately in following cases :-
1) Conversion of Sole proprietor into co.
2) Conversion of partnership into co.
3) Merger or demerger
4) Amalgamation
etc..
Thankz
14 April 2010
thanks for the answers but the i have the doubt when it is completely dissolved in middle of the year
15 April 2010
when it is completely dissolved in the middle of the year, then claim depreciation proportionately.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- Under construction property in ITR
- Gift of mutual fund units to daughter
- Not able to file ITR
- Upload Level ValidationITR3Category of Defect B/D
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
