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Additional Dep. (PGBP)

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(Querist)
13 December 2022 Can an assessee claim Additional Depreciation every year or is it only allowed for one year?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
13 December 2022 It's allowed for only one year.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
13 December 2022 As per the Section 32(1) (iia) of the Income Tax Act, 1961 the plants and machinery engaged in the production of a thing are granted a deduction on additional depreciation at the rate of 20% in the year they were purchased
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