Hi,Whether a trust is eligible to claim depreciation on assets? If so, under which section of IT Act? I doubt whether Trust is eligible to claim same rates u/2 32 of IT Act?
CA.G.Muguntha Narayanan
(Internal Auditor at TVS Motors)
(2195 Points)
Replied 21 September 2010
Dear Krisha,
There is no point in sec.32 which excludes a trust from claiming depreciation. Hence, sec.32 applies to trust also
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
