Depreciation on buses
This query is : Resolved
CA Sahil Singla..
(Querist)
15 May 2012
Sir
A co. donated a bus to school in which employees children study. CAn co. clain depreciation on this bus ?
A co. donated a bus to school in which employees children study. CAn co. clain depreciation on this bus ?
CA PARAS BAFNA
(Expert)
15 May 2012
When donation of an asset is given by a person, he has to detach himself from the asset not only physically but mentally also.
.
Donation changes ownership of the asset.
Depreciation can generally be claimed by the owner only.
.
Decide first the ownership then only think about the depreciation.
.
.
Donation changes ownership of the asset.
Depreciation can generally be claimed by the owner only.
.
Decide first the ownership then only think about the depreciation.
.
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