whether trust can claim depreciation on fixed assets
This query is : Resolved
20 August 2009
whether trust can claim deprciation on fixed assets after claiming it as application to income under addition to fixed assets
20 August 2009
yes can claim rather has to claim as per one judgement all assesses have to claim depreciation u/s 32
If you have still confusion then pls make question more specific so tht specific reply is possbile
thanks
If you have still confusion then pls make question more specific so tht specific reply is possbile
thanks
21 August 2009
respected sir,
my question is that can a trust take a double deduction on fixed assets.
firstly by claiming addition to fixed assets as income applied to charity and secondly by claiming depreciation on that asset again. Is this possible?
thanks
my question is that can a trust take a double deduction on fixed assets.
firstly by claiming addition to fixed assets as income applied to charity and secondly by claiming depreciation on that asset again. Is this possible?
thanks
21 August 2009
Yes vide CBDT Circular no.5-PLXX-6 of 1968 dated 19/6/1968.
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