Fixed asset owned by director but used by pvt co.-treatment?
This query is : Resolved
28 March 2013
Hello everyone,
one of my client was doing advertising business under proprietorship.
he formed a pvt ltd company fin fy 12-13. he divided his business between proprietorship firm and co.
fixed assets like computers, printers, air conditioner, vehicle which are in his personal name are actually used by the company.
My question :
how to transfer assets in the books of the company to claim depreciation ?
one of my client was doing advertising business under proprietorship.
he formed a pvt ltd company fin fy 12-13. he divided his business between proprietorship firm and co.
fixed assets like computers, printers, air conditioner, vehicle which are in his personal name are actually used by the company.
My question :
how to transfer assets in the books of the company to claim depreciation ?
30 March 2013
calculate the value of all assets and issue shares of equal to value in the name of the owner. assets will be debited to balance sheet by crediting the paid up share capital.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- Taxable or Tax exempt
- ADVANCE PAYMENT OF ADVOCATE
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- NRI starting business in India
- TDS Deducted AY-2013-14 Not Reflected in 26as
- CREDIT NOTES WITHOUT GST
- Filling ITR - U
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
