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Partnership purchase expense capitalized or not ?

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 November 2013 I was a partner of a company with 50% shares. now i taken that company with 7 lacs given to that partner and convert that company into proprietorship firm.

now what should i do with that expenditure do i capitalized and depreciate every year or take as an expense

thanks everyone CCI
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
24 November 2013 Please mention the terms of the agreement and status of the firm's assets and liabilities.
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