20 November 2019
We are planning to convert the existing LLP into Private Limited Company.
In the existing LLP, for fixed assets we follow the rates of depreciation as per the Income Tax Act,1961 i.e., on WDV. Individual asset value is not available.
Now, if the LLP is converted into Pvt. Ltd. , we need to follow the methods available as per the companies act. How to arrive the value of individual asset for assessing the balance useful life in this case?
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