Priyanka.S (Articled Student) (168 Points)
05 June 2017
Shubham Gupta
(Business Consultants)
(2077 Points)
Replied 05 June 2017
9) (i) Books owned by assessees carrying on a profession— (a) Books, being annual publications-100%
(b) Books, other than those covered by entry (a) above -60%
so it should be 60%
Priyanka.S
(Articled Student)
(168 Points)
Replied 05 June 2017
Sir, small doubt, College is not carrying any profession its sole purpose is teaching students, can we depreciate @ 60%
Shubham Gupta
(Business Consultants)
(2077 Points)
Replied 05 June 2017
mam,
the intention of law maker is on the publication life, so if it is annual publication then depreciate at 100%
otherwise 60%
CAclubindia
