Depreciation treatment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 October 2014
Dear Sir, a person has closed his proprietory concern on 30th September 2013 and transferred the assets to his partnership firm on 01st October 2013. Is depreciation allowable in case of the proprietorship firm?
04 October 2014
50% Depreciation is allowable in case of proprietorship firm.
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