Additional Depreciation
This query is : Resolved
27 September 2010
Say, there was an addition of 100 Crores in H2 of FY 09.
In FY 09, (50% of 20%) ie 10% of 100 Crores or 10 Cr has been claimed as additional depreciation.
Total additional depreciation allowed is 20% but for the simple reason of addition in second half, additional 10% is lost.
Under the existing provisions, is there any way to calim the foregone 10% in FY 10
In FY 09, (50% of 20%) ie 10% of 100 Crores or 10 Cr has been claimed as additional depreciation.
Total additional depreciation allowed is 20% but for the simple reason of addition in second half, additional 10% is lost.
Under the existing provisions, is there any way to calim the foregone 10% in FY 10
28 September 2010
As per Income Tax Act Additional Depreciation is available only in the year in which the new plant and machinery is first put to use.
So i think there is no possibility to avail such benefit.
So i think there is no possibility to avail such benefit.
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