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Dep as Per It Act

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(Querist)
07 August 2008 Sir,
I want to know whether subsidy received will be deducted from the Cost of the Assets while calculating Dep as per Income Tax Act.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
07 August 2008 If the subsidy is inrelation to the asset directly, yes. If the subsidy is general, no.
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SHALINI JAIN

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SHALINI JAIN (Querist)
07 August 2008 Sir ,
Thank you for the reply.Can you please mention me the section in the IT Act regarding this, as my colleague wants to know the exact section where this is mentioned.
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GIRISH KUMAR MITTAL

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GIRISH KUMAR MITTAL (Expert)
07 August 2008 Refer AS-12 Goverment Grant

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