Additional depreciation

This query is : Resolved

Baljinder Singh (Querist)
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03 October 2008 Dear Sir,

We have imported the machinery from Amada cost around 1.34 core on dt.15.03.2008. we have accounted the same in our books and no depreciation charged during the year F.Y. 2007-08. The Machinery installed & put to use on 15.05.2008.

I would like to know that can we claim additional depreciation on above said machinery during the year 2008-09

Regards,

Baljinder Singh

Taxguy

Taxguy (Expert)
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03 October 2008 No When you have not claimed the basic depreciation, you may not able to claim additional depreciation.

Baljinder Singh

Baljinder Singh (Querist)
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03 October 2008 We have purchase the machinery in F.Y. 2007-08 and not put to use the machinery.

The same machinery installed & put to use in next F.Y. 2008-09 on dt.15.05.2008. Can we claim normal & additional depreication in F.Y. 2008-09

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Taxguy

Taxguy (Expert)
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03 October 2008 You can claim additional depreciation for FY 2008-09.