Depreciation in Co Operative Service Society

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CA Practice
76 Points Posted on 04 September 2021

Can a Co Operative Service Society claim Depreciation in books of account and Income tax?

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On 04 September 2021 at 12:57 Report
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Yes, a Co-operative Service Society can indeed claim depreciation in its books of account and for income tax purposes. The primary condition is that the asset must be owned and used by the society. There are no specific restrictions preventing such claims if these criteria are met.

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Knowledge Sharer
443 Points Posted on 04 September 2021

Yes. There is no bar in claiming the depreciation provided the asset is owned and used by the society 

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On 04 September 2021 at 15:35
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Chartered Accountant
24588 Points Posted on 05 September 2021
Yes depreciation can be claimed
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On 05 September 2021 at 08:03

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