Additional depreciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 May 2016 Mr A has purchased a machinery on 05/12/2014 and claimed additional depreciation at 10% in F.Y 2014-15.
As per the amendments, balance 50% additional depreciation can be claimed in next f.y.
This amendment is applicable from 01st April, 2016 and relates to A.Y 2016-17.

Whether Mr A can claim balance 10% additional depreciation of machinery purchased on 05/12/2014 in F.Y 2015-16, considering the date of applicability of amendment ?

If Yes, Are there any case laws regarding this issue ?

Rupesh Jain

Rupesh Jain (Expert)
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03 May 2016 this prov. come in current . pls wait for the case law.

Querist : Anonymous

Querist : Anonymous (Querist)

03 May 2016 please let me know whether Mr A would get the balance 10% of machinery purchased in last yr during the current year.

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Rupesh Jain

Rupesh Jain (Expert)
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03 May 2016 prov regarding the 10% add. dep for the year, but if your assets use in last year less than 182 then you can claim 5% in last year then you can claim Bal 5% depreciation in next year.