Depreciation- urgent reply needed
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 March 2015
sir.......for societies and trusts, will depreciation be deducted under sec 32 of income tax act???????????????
17 March 2015
Depreciation allowance is always computed as per sec 32, be it trust or society. So long as the trust and /or society having income as per income tax act, the depreciation is required to be calculated as per sec 32
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