Rate of depreciation
Querist : Anonymous
Please specify the rate of depreciation for library book in a school for income tax purpose
regards
Querist : Anonymous
For a school what should be the rate of depreciation for library books.
The decision is since article used is the same (books) and purpose for which it is used is the same, no need to distinguish between PROFESSION and BUSINESS.
In view of the above decision, a school can depreciate BOOKS at the rates given by Mr. Aashish Tiwari.
Click here to login now
Similar Resolved Queries
- TDS 194-T applicability
- Tds on commission charges
- Fixe term employment
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- GST ITC REVERSE
- TDS on TRUST
- Withdrawal in cash from partners capital account by partner
- Regarding Applicability of Tax Audit u/s 44AB
- Consolidated financials
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Starting trading business
- Need Professional Opinion AY 2012-13 Old Demand
- 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?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
