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.
23 December 2022
Capitalise the building in the partnership firm and claim depreciation and interest.
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