Depreciation
This query is : Resolved
05 December 2014
if there is a fixed asset used(say a car) used by the assessee for his personal use for a particular period (say 2 years) and as used for personal use, he cannot claim depreciation for same. after dat time he transfers that asset to his business, then what will be the opening value of that asset? whether it will the purchase cost or WDV till date.
Thankyou in advance
Thankyou in advance
05 December 2014
Assets will be brought in books of accounts of business at WDV.
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