A charitable trust acquired two air-conditioners for ₹1,40,000 on 10th June, 2014. It claimed the acquisition as application of income. The amount it can claim by way of depreciation for the said air-conditioners for the

CS Executive · Tax Laws and Practice · PYQS · December 2015
A charitable trust acquired two air-conditioners for ₹1,40,000 on 10th June, 2014. It claimed the acquisition as application of income. The amount it can claim by way of depreciation for the said air-conditioners for the assessment year 2015-16 is
(A) ₹21,000
(B) ₹1,40,000
(C) ₹35,000
(D) Nil.

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Income Tax Act, 1961

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