Regarding depreciation of books for non professional assesse

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anuj bansal (Querist)
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17 July 2013 kindly tell us regarding rate of depreciation
on books , our client is not a professional soo tell us what rate will be implemented on it.

we think it will not be 60% or 100%

kindly support your answer also

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 July 2013 there is no difference for dep rate for non professional assessee and other assessee.

rate are same for all.

anuj bansal

anuj bansal (Querist)
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18 July 2013 i dont think so.. we show balance sheet of a client which is a reputed university.
depriciation on book are at 15%..

they say that non professional books will be part of plant & Machinery..

kindly help us in this situation

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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18 July 2013 tell me where in the act is written that for professional rate is xyz and for non professional it is abc????

anuj bansal

anuj bansal (Querist)
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18 July 2013 sir i am concerned about professional word.

we donot consider everyone as a professional, if section say somthing about professionals than it does not mean in my opinion that its for non professional body also...

university is not a professional thats i am sure.. kindly help us in this situation

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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18 July 2013 infact for university the books are printed yearwise it should be depreciated @100% as for evry year.

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