Calculation of depreciation
This query is : Resolved
17 December 2009
Good afternoon friends,
Please guide me, how to calculate depreciation on assets of college run by a trust. Income tax is exempted to this trust. My doubts:
1. Depreciation to be calculated as per company law or income tax act or both.
Praveen
Please guide me, how to calculate depreciation on assets of college run by a trust. Income tax is exempted to this trust. My doubts:
1. Depreciation to be calculated as per company law or income tax act or both.
Praveen
17 December 2009
Please clarify the following:-
1) is it a section 25 Company
1) is it a section 25 Company
17 December 2009
I think you have to Follow as per IT Act.
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