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

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries