Rate of depreciation
Querist : Anonymous
Please specify the rate of depreciation for library book in a school for income tax purpose
regards
Querist : Anonymous
For a school what should be the rate of depreciation for library books.
The decision is since article used is the same (books) and purpose for which it is used is the same, no need to distinguish between PROFESSION and BUSINESS.
In view of the above decision, a school can depreciate BOOKS at the rates given by Mr. Aashish Tiwari.
Click here to login now
Similar Resolved Queries
- Query on effect of registration of property
- Wrong CMPo8 file
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
