14 August 2010
I want to know while calculating the addtional depreciation addition before september is 20 % and after september is 10%. I want to confirm if we calculate the 180 days for eg from 1st April 2009 180 days completes on 27.09.2009, please advise we have to calculate additional depreciation in full rate @ 20% for the asset put to use on or before 27.09.2009 or we have to calculate the additions put to use upto 30th Sept 2009.
14 August 2010
10% is applicable if asset is put to use less than 180 days .that means if any assets is installed upto 1 st october then 20% is applicable. it is better you should calculate wheather the asset is put to use for less than 180 days or not.
14 August 2010
Please note that for claiming additional dep, both acquisition & installation of machinery should take place in same F.Y. Further, Additional Dep. would be allowed to the extent of half of 20 % as the put to use is less than 180 days . Therefore, additioanl dep would be allowed only @ 10% of original cost of new machinery.
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