Depreciation for asset transfer
This query is : Resolved
23 July 2010
Dear Friends.......
Pvt Ltd....Company purchased office equipments on November 2009 Amount_75Lacs(FY-2009-10) the same assets transfer to another Pvt Ltd company on 31.05.2010 (FY-2010-11) these are sister concern compaines....so now that first company take depreciation 15%.....?
Pvt Ltd....Company purchased office equipments on November 2009 Amount_75Lacs(FY-2009-10) the same assets transfer to another Pvt Ltd company on 31.05.2010 (FY-2010-11) these are sister concern compaines....so now that first company take depreciation 15%.....?
23 July 2010
it is better to mention that the stock is transferred to sister concern as on the date when the audit report is presented before the board / at AGM the company does not possess the asset.
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