Asset Ownership

mit thakkar (Student CA CPT ) (36 Points)

09 October 2017

asset transfered from partners to company. can we claim depreciation ?

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4 Replies

amar delo (article assistant) (115 Points)
Replied 09 October 2017

if asset is given for lease then company can claim depreciation if its given for rent then partner can claim

mit thakkar (Student CA CPT ) (36 Points)
Replied 09 October 2017

wt if i trf it in name of company

amar delo (article assistant) (115 Points)
Replied 09 October 2017

u transferred it to company so only company can claim credit since ownership is transferred

mit thakkar (Student CA CPT ) (36 Points)
Replied 09 October 2017

oh ! This implies i can get more benefits in leasing the aaset

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