Additional Depreciation
This query is : Resolved
24 July 2007
As per sec 32 addl depn of 20% eligible for plant & machinery - in case put to use for less than 180 days eligible for deduction at 10%. For eg. if I have taken 10% of Rs.250000, actual cost of P& M installed on 1st Nov 05, I will be taking 25000 deduction in 2005-06 and another 25000 deduction in 2006-07. Is that correct
24 July 2007
In my opinion, another depreciation of Rs 25000/- will not be allowed in next year.Additional depreciation is allowable in the year of installation only.
08 August 2023
I agree with expert.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
CAclubindia
