Capital asset rec in donation
This query is : Resolved
09 August 2014
Dear sir/ mam
if Trust received the capital asset in donation then at what value must be recorded in books? moreover i want to ask can depreciation be claimed on such capital asset
09 August 2014
you can show at nominal value due to you have not incurred any rupees for that assets , you can not claim the depreciation on that assets.
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