WDV of Branch Asset
This query is : Resolved
29 August 2009
while preparing schedule of Depreciation as per Income Tax U/s 32 for the Y E 31.03.09, WHETHER we can Consider the WDV of assets of One entity( HUF) as on 31.03.08 as an Opening WDV of another entity ( Company )as on 01.04.08 , in case of transfer of all assets from HUF to Company.
Thanks
Thanks
CA. B.SRINIVASULU
(Expert)
30 August 2009
Yes. You can take the same value if your tranfer agreement is silent about the asset value.
If any specific value is given in the tranfer deed then that value has to be considered.
If any specific value is given in the tranfer deed then that value has to be considered.
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