Depreciation on assets of NGO

This query is : Resolved

CA.Ankit Juneja (Querist)
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21 September 2008 Is depreciation chargeable on the assets of NGO? Also please suggest from where I can get the information regarding the same. That is from some kind of act??

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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22 September 2008 What is the status of NGO (Society, trust, Section 25 company etc.)?

What is the nature of asset?

Is it being used or not?

CA.Ankit Juneja

CA.Ankit Juneja (Querist)
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24 September 2008 It is a training college (Multistate cooperative society) Want to know about chargeability of depreciation on all kinds of assets for it or if u can let me know from where I can get this info from some book or site

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S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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30 September 2008 As this is a co operative society, depreciation can be charged as per IT Act. You can get the rate from any standard ready reckoner.