section 11
This query is : Resolved
25 October 2010
in case of charitable institution registered Under section 12AA and also SEc 80G , it claims exemption from income tax,,,,.. including capital receipt / expenditure.... question is at what rate such institutions can provide depraciaation on fixed assets.....
25 October 2010
Depreciation claimed is allowed under section 11, therefore follow rates prescribed in Appendix-1 to rule 5 of income tax Rules,1962.
28 October 2010
thanks
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