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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Non filing of I T Returns
- UDIN ISSUE
- SALARY CAN BE CAPITALIZE
- GST Intimation due to Government took possession of Business Premises under PPE Act
- TDS on Fixed Assets purchased
- TDS on purchase of under construction property from a reseller
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
