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Accounting for coopeative housing societies

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(Querist)
01 May 2012 whether depreciation can be charged o lift by a cooperative housing society as it has to satisfy the conditions of sec32 under income tax act? pl guide me.
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Ki$hor B

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Ki$hor B (Expert)
01 May 2012 You can consider the deprn. in the I & E a/c.

I suppose you've shown the elevator as an asset in the society's BS.

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