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application of corpus fund of trust
whether purchase of fixed assets is considered to be application of corpus fund????......
Replies (6)
if u claim depreciation as application of fund then cost of asset is not allowed as deduction
if u claim cost of asset as application of fund then depreciation is not allowed
either one is allowed as application of fund
if u claim cost of asset as application of fund then depreciation is not allowed
either one is allowed as application of fund
my question is different
yes you definitely considered as application of fund but you can't claim depreciation on such asset
thank you so much 😊
your welcome Bhatia ji
Could you mention the section number for reference.
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