written down value

This query is : Resolved

krishna chaitanya (Querist)
Follow

18 October 2010 respected experts

1)what is meant by closely held companies?
2)please explain the situation with which the written down value of block of assets would be reduced to nil?

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
Follow

19 October 2010 A company in which public are not substantially interested is known as a closely held company.

Where the sale value of any assets of block is more than written down value, the block will become nil.