Treatment of depreciation
This query is : Resolved
30 June 2016
Dear All
I am working in a partnership firm please clarify my doubt
partnership firm assets and liabilities taken over by pvt ltd on 30.12.2016 by slum sales
in partnership firm depreciation is calculated 15% on plant and machinery on 31.12.2015 and inpvt ltd co can i calculate depreciation 15% on plant and machinery is it right please guide me
Regards
Srinivas
I am working in a partnership firm please clarify my doubt
partnership firm assets and liabilities taken over by pvt ltd on 30.12.2016 by slum sales
in partnership firm depreciation is calculated 15% on plant and machinery on 31.12.2015 and inpvt ltd co can i calculate depreciation 15% on plant and machinery is it right please guide me
Regards
Srinivas
30 June 2016
as per income if you are using assets not more than 180 days in a year the you have to eligible to take 50% depreciation of the normal rate. for company you can get only 50% of the normal rate depreciation.
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