conversion of firm into company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 May 2011
In case of conversion of firm into company, how to calculate depreciation
21 May 2011
If the case is covered under clause (xiii) of Section 47( i.e. conversion not treated as transfer), depreciation will be calculated as if no conversion took place and the same will be apportioned on the proportion of No. of days for which the asset has been used by the firm and the company. (Pl Refer Section 32)
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