Depreciation in case of transfer of business

Gaurav Chamoli (Articled Trainee) (52 Points)

26 June 2014  

What will be the effect of Depreciation in case of Transfer of Business from deceased Father to Son as per Income Tax Act ?

We are going to make 2 Balance Sheets.

Do we calculate Depreciation in the proportion of Number of Days or 50:50 or wholly in books of Father or wholly in books of Son?

Also let us know the accounting effect....