Depriciation on fixed assets introduced by partners

Tax planning 608 views 2 replies

Can any one pls help me.. whether depriciation can be claimed ( by partnership firm)

on fixed assets introduced by partners in a partnership firm?

Or the asset has to be in firms name?

Please reply?

 

Replies (2)

Assets have to be in firm's name to claim depreciation..

Correct me if i'm wrong..!!!

Cherish & Aanya

Yes, Firm can claim depreciation on the assets which are registered in the name of partner.

 

 


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