Depreciation
This query is : Resolved
01 September 2008
Please give your opinion on the following issue.
A partnership business with completed balance sheet for the year end 31-03-2007 was converted as a pvt. ltd. co from 01-04-2007. All the assets and liabilities were taken over by the Pvt Ltd and March 2008 is the first Balance sheet for Pvt Ltd Co. For depreciation Calculation can we treated WDV of Assets in Partnership firm as Opening Balance in Pvt Ltd Co.
Regards
Sshanmugha
A partnership business with completed balance sheet for the year end 31-03-2007 was converted as a pvt. ltd. co from 01-04-2007. All the assets and liabilities were taken over by the Pvt Ltd and March 2008 is the first Balance sheet for Pvt Ltd Co. For depreciation Calculation can we treated WDV of Assets in Partnership firm as Opening Balance in Pvt Ltd Co.
Regards
Sshanmugha
01 September 2008
Yes.
01 September 2008
Yes
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Confusion around Form 26QB fields
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Sale of property furniture sale
- Applicability of Ind As to associate of associate
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
