Additional depreciation

This query is : Resolved

surbhi jain (Querist)
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01 February 2014 Whether benefit of additional depreciation is available on asset with depreciation rate of 100%, if the asset is used for less than 180 days. Remaining conditions for additional depreciation is satisfied

Guest

Guest (Expert)

01 February 2014 Additional Depreciation claim is available only in case of Eligible Plant & Machinery, wherein all Plant & Machineries are eligible except the following:

· Ships & Aircrafts; or

· Any machinery/ plant which is and Old/ Second hand.

· Any machinery/ plant installed in any office/ residential accommodation/ guest house accommodation.

· Any machinery/ plant whose total actual cost is allowed as a deduction in computing business income in any if one previous years.

So according to me if the depresciation is 100% the last condition applies hence not eligible for additional depreciation.

Guest

Guest (Expert)

01 February 2014
Even my company have many machinery which is under 100% depreciation and we are not taking any additional depreciation on that.

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surbhi jain

surbhi jain (Querist)
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01 February 2014 But we have used for less than 180 days and claimed only 50% depreciation thereon...so the last condition do not satisfied