https://www.taxtmi.com/forum/issue?id=121070 Depreciation on an asset received in kind through a corpus or specific-purpose donation should ordinarily be charged to the Income & Expenditure Account, with accumulated depreciation reducing the asset's carrying value. The corpus or specific-purpose fund should remain separately presented according to donor terms and accounting policy. Direct adjustment of depreciation against that fund is appropriate only where donor restrictions, governing terms and the applicable accounting framework specifically permit it. Tax restrictions on depreciation as application of income remain distinct from book accounting treatment. en-us Sun, 16 Aug 2026 00:31:29 +0530 Sun, 16 Aug 2026 11:07:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=121070 Depreciation on an asset received in kind through a corpus or specific-purpose donation should ordinarily be charged to the Income & Expenditure Account, with accumulated depreciation reducing the asset's carrying value. The corpus or specific-purpose fund should remain separately presented according to donor terms and accounting policy. Direct adjustment of depreciation against that fund is appropriate only where donor restrictions, governing terms and the applicable accounting framework specifically permit it. Tax restrictions on depreciation as application of income remain distinct from book accounting treatment. Discussion-Forum Companies Law Sun, 16 Aug 2026 00:31:29 +0530 https://www.taxtmi.com/forum/issue?id=121070