Registration 80g
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 October 2012
is deprecation allowed for 85% expenses of gross income
23 October 2012
Hi,
Yes..
Rgds//Vaibhav
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Yes..
Rgds//Vaibhav
Use thank button to convey your appreciation.
24 October 2012
In CIT Vs Society of Sister of St. Anne 146 ITR 28,depreciation in addition to capital expenditure is allowed to be claimed as income applied to charitable/religious purposes. But in view of the decision of the Supreme Court in Escorts Ltd. V Union of India reported in 199 ITR 43, double deduction in respect of the same outgoing ,i.e. depreciation and capital expenditure, cannot be allowed.
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