Depreciation allowed in case of conversion

This query is : Resolved

Dhiraj kumar (Querist)
Follow

26 August 2013 Dear Sir,
I want to know amount of depreciation that we can claim as per provision of Income Tax Act, 1961.
Actually a proprietorship firm get converted into a private limited company on 01.July.2012 thereafter company is in operation.
So while submitting Income Tax Return how much depreciation can we claim;i.e; can we claim depreciation in 3:9 proportion while filing Income tax return of both individual & Company for the Assessment Year 2013-2014.

Waiting for the earliest response!

Thanks & Regards
Dhiraj Kumar

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

26 August 2013 Depreciation will be divided proportinately between the days used by prop firm and co.

Dhiraj kumar

Dhiraj kumar (Querist)
Follow

27 August 2013 Thanks for your Reply Sir

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

ASHOK KUMAR TEKURU

venkateswara reddy

Adesh Mahajan

CA TARUN JINDAL

Chaitanya Voolla

Subscribe Now

Depreciation allowed in case of conversion

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

CA Final

Article Assistant

GST CONSULTANCY

GST CONSULTANT