I was proprietor of the Business 2 years back.The business got closed but we were having Motor Cycle as asset.After 2 years i started the new business. 1.Can i show that asset in new business and claim Depreciation? 2. If yes on What Value? 3.Is it an addition or opening to Block of Asset?
12 September 2012
if that motor cycle u bring in business as capital introduced in business than u r eligible to claim depreciation.. 2. book value of assets 3. u inter in business along with capital assets i.e. that assets known as opening assets..
CAclubindia
