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Depreciation Under Section 11(6) Of Income Tax Act

Legal / E-Newsletters
Depreciation is a non-cash expenditure to protect an organization against erosion in the value of assets and is generally charged while the finalization of accounts to reflect a true and fair view of the financial result and the financial status of the organization. Depreciation is available to charitable or religious organizations under section 11(1) read with section 11(6) of the Income-tax Act. Therefore, Charitable Organizations need to understand the difference between an asset created out of income (subject to application) and assets created from sources other than income. In this issue, we have discussed the allow ability of depreciation while computing income subject to application and allow ability of depreciation as an application of income.
Language : English
Isbn :
No of pages :
Publisher : Financial Management Service Foundation
Author Information : Dr. Manoj Fogla, CA Suresh Kumar Kejriwal, Dr. Sanjay Patra and Mr. Sandeep Sharma
Published Date : 01-02-2024
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Dr. Manoj Fogla, CA Suresh Kumar Kejriwal, Dr. Sanjay Patra and Mr. Sandeep Sharma

About Author

Dr. Manoj Fogla, specialises in governance, legal & finance issues related to voluntary organisations. He is consultant to various international funding agencies, voluntary organizations and corporate foundations. 

Suresh Kumar Kejriwal is working with NGO sector since last more than 22 years. He has facilitated the process of formulating guidelines for the financial management system for NGO sector.

Dr. Sanjay Patra, A seasoned professional with a demonstrated history of working in the development sector, holds a Doctor of Philosophy (Ph.D.) focused in Monitoring and Reporting of NGO projects in India – Trends and Challenges.

Mr. Sandeep Sharma serves as the Executive Director at Financial Management Service Foundation. A seasoned trainer, facilitated more than 500 workshops across the globe on financial management, NPO governance and legal compliances.

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