School bus
This query is : Resolved
28 March 2014
Dear Experts,
Kindly guide me on the advantages of buying a school bus for a school (under Charitable Trust) on Tax Front & Balance sheet front. Now we have hired school buses & planning to buy.Kindly give your valuable suggestions on Hire Vs Purchase of school bus.
Kindly guide me on the advantages of buying a school bus for a school (under Charitable Trust) on Tax Front & Balance sheet front. Now we have hired school buses & planning to buy.Kindly give your valuable suggestions on Hire Vs Purchase of school bus.
28 March 2014
then it will be allowed as income applied for charitable purpose and no tax on such exp u made....
28 March 2014
Kindly elaborate. This is not Income. Depreciation will have tax benefit.
28 March 2014
it is income only b4 u pay to buy then its a valid exp which income tax dept will allow...every exp is first income only when its allowed it becomes an exp in income tax act.
29 March 2014
The benefit is not in term of depreciation. The benefit (application of income) is provided in the year you buy the bus itself.
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