32ac (1a) section
This query is : Resolved
17 March 2016
The eligiblity for claiming investment allowance under 32ac (1a) is to acquire and installed plant & machinery exceeding 25 crore in such previous finacial year...
somewhere any frnd of mine said limit is not restrictd to only SUCH YEAR ..its ANY PREVIOUS YEAR aggreating the amount from 2015-16 to 2016-17
please clear the whole provision
17 March 2016
No...., Deduction u/s 32AC(1A) is allowable only when value of asset acquired during the year is 25 Cr or more. No aggregation can be done for 2 years.
Aggregation was allowed for deduction u/s 32AC(1) but there is no such provision for deduction u/s 32AC(1A)
Aggregation was allowed for deduction u/s 32AC(1) but there is no such provision for deduction u/s 32AC(1A)
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Tds on building rent monthly
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- REGARDING ACCOUNTING CODE FOR SERVICE TAX PAYMENT
- Redevolpment of bldg in mumbai
- Refund of AY 22-23
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
