Additional Depreciation on Machinery - 32(1)(iia)

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16 October 2007 The assessee Company is a trading Company during the financial year 2005 - 06. Trading of Foundry Chemicals.During the financial year 2006 - 07 it started manufacturing during Feb 2007 of one of the products trading like "Sleeves". The New Machinery cost around Rs.35 lacs.Manufacturing of Sleeves started during Feb 07 end.It is new machinery assembled with necessary parts to make the machinery running to manufacture the required product "sleeves". Can the assessee claim additional depreciation under Section 32 (1)(iia) of 20% for six months? (apart from the normal depreciation of 15% for six months)Manufacturing Unit at SIDCO Industrial Estate, Chennai, Tamil Nadu

16 October 2007 yes....

16 October 2007 Yes He can i.e 50% of 20% as depreciation


16 October 2007 yes u can.....

16 October 2007 yes the company can claim additional depreciation

16 October 2007 The Company can claim additional Depreciation. However, Form 3AA has to be submitted.



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