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Calculation of depreciation

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(Querist)
17 December 2009 Good afternoon friends,

Please guide me, how to calculate depreciation on assets of college run by a trust. Income tax is exempted to this trust. My doubts:
1. Depreciation to be calculated as per company law or income tax act or both.

Praveen
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KRISHNA KUMAR R C

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KRISHNA KUMAR R C (Expert)
17 December 2009 Please clarify the following:-
1) is it a section 25 Company
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
17 December 2009 I think you have to Follow as per IT Act.
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