Can any one pls help me.. whether depriciation can be claimed ( by partnership firm)
on fixed assets introduced by partners in a partnership firm?
Or the asset has to be in firms name?
Please reply?
cherisha patel (CA) (88 Points)
03 March 2013Can any one pls help me.. whether depriciation can be claimed ( by partnership firm)
on fixed assets introduced by partners in a partnership firm?
Or the asset has to be in firms name?
Please reply?
CA. Dushyant ZALA
(PRACTISING C.A.)
(72 Points)
Replied 03 March 2013
Cherish & Aanya
Yes, Firm can claim depreciation on the assets which are registered in the name of partner.
CAclubindia
