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Depreciation

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(Querist)
08 July 2012 If personnel used asset brought into business after 3 year of usage , the what will be a opening WDV value of asset for the business to claim depreciation for the 4 th year??
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
09 July 2012 1. Calculate the WDV of the asset assuming that depreciation had been charged on such asset.

2. If the asset is an insured asset (for instance motor car), take the insured value as the fair market value and record the asset in the books at the insured value
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
22 July 2012 You have to determine the amount at which the assets are to be transferred and the same shall be purchase price of the business. The person who is transferring the asset shall bear the loss or profit added or deducted from the assets so transferred.
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