depreciation
This query is : Resolved
27 June 2016
if in que. fixed assets purchaged during the are given ..how to calculate depreciation ....6months or 12 month (NON-PROFIT ORGANIZATION)
27 June 2016
there is not depreciation allowed as per Income tax , for calculating profit IT consider as application of funds. and receipts of fund diff of both will be income you have to use 85% of fund for the purpose for trust as estiblised by you.
normally for business as per income tax act depreciation take if you use assets more than 180 days then full rate of depreciation will charge, otherwise 50% of normal depreciation will allowed.
normally for business as per income tax act depreciation take if you use assets more than 180 days then full rate of depreciation will charge, otherwise 50% of normal depreciation will allowed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- SALARY CAN BE CAPITALIZE
- TDS on Fixed Assets purchased
- TDS on purchase of under construction property from a reseller
- GST Intimation due to Government took possession of Business Premises under PPE Act
- UDIN ISSUE
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
