Depreciation as charitable application remains available where fixed-asset acquisition cost was not previously claimed as income application.

Depreciation as charitable application remains available where fixed-asset acquisition cost was not previously claimed as income application. https://www.taxtmi.com/highlights?id=103043 Section 11(6) bars depreciation as application of income for charitable purposes only where the acquisition cost of the relevant asset has already been claimed as application of income in the same or an earlier year. Where a charitable institution has not claimed capital expenditure on acquiring fixed assets as revenue application and claims only depreciation, the restriction does not create a double deduction. Depreciation on those fixed assets may therefore be treated as allowable application of income for the relevant assessment year. en-us Tue, 25 Aug 2026 08:34:03 +0530 Tue, 25 Aug 2026 08:34:04 +0530 TaxTMI RSS Generator Depreciation as charitable application remains available where fixed-asset acquisition cost was not previously claimed as income application. https://www.taxtmi.com/highlights?id=103043 Section 11(6) bars depreciation as application of income for charitable purposes only where the acquisition cost of the relevant asset has already been claimed as application of income in the same or an earlier year. Where a charitable institution has not claimed capital expenditure on acquiring fixed assets as revenue application and claims only depreciation, the restriction does not create a double deduction. Depreciation on those fixed assets may therefore be treated as allowable application of income for the relevant assessment year. Highlights Income Tax Tue, 25 Aug 2026 08:34:03 +0530 https://www.taxtmi.com/highlights?id=103043