Additional dep u/s 32(1)(iia)
This query is : Resolved
SUNIL ARORA
(Querist)
10 April 2014
whether additional depreciation is allowable u/s 32(1)(iia) @10% for next asst year if in previous year addition is made after 30th sept
Shudhanshu Agrawal
(Expert)
10 April 2014
No. According to section 32(1)(iia) and relevant explanations to the said section in case any plant and machinery is used for less than 180 days in a previous year depreciation shall be allowed at 50%. In such a situation additional depreciation shall be allowed @ 10%. No further additional depreciation will be allowed in next previous year.
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