Depreciation as per companies act 2013

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Querist : Anonymous

Querist : Anonymous (Querist)

26 May 2016 Dear sir,
An individual transfers his assets to company and my doubt is what date should we take as date of purchase in calculating depreciation as per new companies act 2013?whether it's actual date of purchase by the individual or the date on which the asset is transferred to the company? In my opinion i thought it was the actual date of purchase. Please clarify me whether it's Correct or not.

Rupesh Jain

Rupesh Jain (Expert)
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26 May 2016 when assets taken by company from the anyone.

Querist : Anonymous

Querist : Anonymous (Querist)

26 May 2016 I can't understand what you are supposed to say

Rupesh Jain

Rupesh Jain (Expert)
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26 May 2016 when company buy the assets then you take the depreciation. form earlier period/ or owner why you take depreciation.

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