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Depreciation on assets of NGO

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(Querist)
21 September 2008 Is depreciation chargeable on the assets of NGO? Also please suggest from where I can get the information regarding the same. That is from some kind of act??
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
22 September 2008 What is the status of NGO (Society, trust, Section 25 company etc.)?

What is the nature of asset?

Is it being used or not?
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CA.Ankit Juneja

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CA.Ankit Juneja (Querist)
24 September 2008 It is a training college (Multistate cooperative society) Want to know about chargeability of depreciation on all kinds of assets for it or if u can let me know from where I can get this info from some book or site
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
30 September 2008 As this is a co operative society, depreciation can be charged as per IT Act. You can get the rate from any standard ready reckoner.
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