banner_ad

Taxation of trusts

This query is : Resolved 
Profile Image

Profile Image

(Querist)
21 May 2012 If a trust purchased a asset, say for Rs. 5,00,000. So how would we claim exemption u/s 11?
Whether we could show Rs. 5,00,000 as expenditure or as asset & charge depreciation on it at the rate applicable on it under I.T. Act?
Profile Image

Soumitra Basu

Profile Image

Soumitra Basu (Expert)
27 May 2012 Exemption is on income not on expenditure. You will be entitle to depreciation.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details