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DEPRECIATION IN CASE OF SUBSIDY RECEIVED

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(Querist)
26 August 2023 Dear All,

How to calculate depreciation on plant & machinery in case of capital subsidy received after 180 days in the Financial Year?

Partnership Firm had purchased Plant & machinery in FY 2020-21. Subsidy related to such plant & machinery is received in Nov'22. i.e. after 180 days.

Shall I calculate depreciation after reducing subsidy amount from opening W.D.V.?

Thanks & Regards
Nirmal Dave
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
26 August 2023 Reduce subsidy from initial capitalised value and calculate depreciation.

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