Additional depreciation
This query is : Resolved
14 October 2010
is it is mandatory to claim additional depreciation???????? if it is not claimed in the eligible year then what will be the WDV for the next year to claim depreciation for the same asset
14 October 2010
Additional Depreciation is available only in the year in which the new plant & machinery is first put to use. As such it is not available in the subsequent year. If not claimed the WDV will be as per the amount of depreciation claimed i.e. without considering the additional depreciation.
14 October 2010
why it is so as we know it is not mandatory to claim depreciation in computation of income but block will be reduced by the depreciation amount for the next year
Guest
Guest
(Expert)
14 October 2010
claim of Additional depreciation not mandatory....
if there is no increase in production.....
company is not eligible for addl depn
read the provision carefully......
if there is no increase in production.....
company is not eligible for addl depn
read the provision carefully......
19 March 2012
Mandatory.
Reason is as follows:-
Explantion 5 says...... "this subsection"....
The subsection referred therein is 32(1).
Since additional depreciation under sub section (iia) falls under subsection (1),explanation 5 squarely applies to (iia) meaning thereby addtional depreciation is mandatory.
Reason is as follows:-
Explantion 5 says...... "this subsection"....
The subsection referred therein is 32(1).
Since additional depreciation under sub section (iia) falls under subsection (1),explanation 5 squarely applies to (iia) meaning thereby addtional depreciation is mandatory.
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