Dep as Per It Act
This query is : Resolved
07 August 2008
Sir,
I want to know whether subsidy received will be deducted from the Cost of the Assets while calculating Dep as per Income Tax Act.
I want to know whether subsidy received will be deducted from the Cost of the Assets while calculating Dep as per Income Tax Act.
07 August 2008
If the subsidy is inrelation to the asset directly, yes. If the subsidy is general, no.
07 August 2008
Sir ,
Thank you for the reply.Can you please mention me the section in the IT Act regarding this, as my colleague wants to know the exact section where this is mentioned.
Thank you for the reply.Can you please mention me the section in the IT Act regarding this, as my colleague wants to know the exact section where this is mentioned.
07 August 2008
Refer AS-12 Goverment Grant
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