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Depreciation

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(Querist)
12 September 2009 Dear Experts,

If a partnership firm has lost all its fixed assets in a fire leaving no assets in the block, then what is the amount it can can claim,
1.) The normal rate of depreciation or,
2.) the amount of loss?

Thanks & Regards.
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CA Gangadhar Mishra

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CA Gangadhar Mishra (Expert)
12 September 2009 toal wdv less if any thing recd from insurance co.
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Yasmin Salim Shaikh

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Yasmin Salim Shaikh (Querist)
12 September 2009 Thank U Mr Mishra
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