Depreciation when propietorship is converted to firm

1525 views 1 replies

Hi

How depreciation will be calculated u/s 32 of Income tax when a proprietorship firm is converted to partnership firm in the middle of the financial year. eg prop firm from 01.04.13 to 31.07.13 and partnership from 1.8.13

 

Replies (1)
if the book value of assets is same as was in proprietorship then calculate dep. for whole year and then divide it proportionately between prop. and partnership firm....... if assets were taken over at another value then, dep. to be calculated on value in prop. for no. of days it was prop. concern and on the book value of partnership firm for remaining no. of days.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
06 July 2026
Chartered Accountant (Indirect Taxation)

Gowra Ventures Pvt Ltd

Hyderabad

CA

View Details