RATE OF DEP IN CASE OF THE SCHOOLS

Dear Raj,

 As per income tax act, there is no difference between schools and other inst. hence, the same dep, rates are to be applied (Unlike in the co. act)

Dear friend,

There is  no distinguish rule regarding the depreciation rates for Educational Institutions.

180 days condition will also be applicable

BUT IN GUIDANCE NOTES FOR SCHHOLS DIFFERENT RATES ARE GIVEN.

Dear Raj Kumar,

 Can u pls be more specific about the guidance note. Do u mean the G.N. On Tax audit issued by ICAI

GUIDANCE NOTE ON ACCOUNTING OF SCHOOLS ISSUED BY ICAI.

GUIDANCE NOTE ON ACCOUNTING FOR SCHOOLS