Additional Dep on Plant & Machinery

This query is : Resolved

Mahender Jain (Querist)
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28 April 2010 according to IT Act, we can claim addition 20% dep Only on addition on Plant and machinery

so if We make addition on 30.05.09 then its ok we will get Full 20% dep on Addition

But if we make Addition on 20.01.10 then Half of 20% we will take in FY 2009-10 then other half of 20% we can get in 2010-11 or not

i.e. this additional dep only applicabale for Current year and for One year from addition

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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28 April 2010 YOU CAN NOT GET THAT EXTRA 10% IN 2010-11.
APPLICABLE ONLY IN THE YEAR OF PURCHASE.

Professional Careers Academy

Professional Careers Academy (Expert)
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28 April 2010 Hello Jain saab,
Its not allowed dear, section does not provide so, so sorry u cant take the benefit of balance, k

regards,
CA Jatin Bansal
Chandigarh

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