CAN DEPRECIATION BE TAKEN PROPORTIONATELY
This query is : Resolved
rahul pandit
(Querist)
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.
kartik_somu
(Expert)
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
Anil Kumar Meena
(Expert)
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
rahul pandit
(Querist)
14 April 2010
thanks for the answers but the i have the doubt when it is completely dissolved in middle of the year
kartik_somu
(Expert)
15 April 2010
when it is completely dissolved in the middle of the year, then claim depreciation proportionately.
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