HELLO FRIENDS, CAN ANYBODY PROVIDE ME THE DEP RATES APPLICABLE TO THE EDUCATIONAL INSTITUTE
WHAETHER 180 DAYS CONDITIONS APPLICABLE TO THE SCHOOLS ALSO.
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RATE OF DEP IN CASE OF THE SCHOOLS
Replies (6)
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
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