Suppose a partnership firm is taken over by a private limited company on 14.07.2008. In that Case
1) Can partnership firm charge depreciation for 6 months as per income tax act OR up to 14.07.2008 only.
2) As for company companies act is applicabe Can company charge depreciation on assets from 14.07.2008 to 31.03.2008 as per companies act, daily basis.
3) while computing allowable depreciation for company as per income tax act, Can copmany take depreciation for full year as company had purchased/ taken over assets more than 180 days.
4) Is this is a double depreciation for partnership firm as well as for company from 01.04.2008 to 30.09.2008
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