25 July 2014
Sir, Proprietor died in October, his son took over the business from November. Will depreciation be divided proportionately on the basis of NO. OF DAYS USED or Proprietor will not get any depreciation and his son will get half year depreciation only.
25 July 2014
In my opinion succession due to death is as good as sale due to which all assets will be treated as sold to his son in November. Hence proprietor will not get any depreciation and son will get only half year depreciation.
CAclubindia
