Chartiable Organisation
This query is : Resolved
Ritesh Maheshwary
(Querist)
08 October 2010
Can a Chartiable Organisation Claim Depreciation if full Cost is Allowed as deduction U/s 11.
V.K.SUBRAMANI
(Expert)
10 October 2010
yes the cost of asset is eligible for deduction while computing the % of application of income. Also, depreciation is allowable on such asset while determining the income. This is because, the income of NPO is to be computed on commercial principles.
Ritesh Maheshwary
(Querist)
11 October 2010
But This is double deduction to Chartiable Organisation.
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