Firm deduction of interest and depriciation
This query is : Resolved
23 December 2022
dea sir
please clarify that our shop already running a business in a building on rent
but building have purchases from his owner,, registry in the partnership firm name... with partner name . the firm purchases building for his partners via home loan
how to avail interest and depreciation in partnership business balance sheet.
please clarify that our shop already running a business in a building on rent
but building have purchases from his owner,, registry in the partnership firm name... with partner name . the firm purchases building for his partners via home loan
how to avail interest and depreciation in partnership business balance sheet.
CA R SEETHARAMAN
(Expert)
23 December 2022
Capitalise the building in the partnership firm and claim depreciation and interest.
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