Direct tax
This query is : Resolved
26 December 2012
Sir/Madam,
Whether the Machinery installed / acquired before 31.03.2005 eligible for additional depreciation of 15%? If so what are the conditions for eligibility?
Whether the Machinery installed / acquired before 31.03.2005 eligible for additional depreciation of 15%? If so what are the conditions for eligibility?
26 December 2012
It is not allowed on the assets acquired and installed before 1st apr 2005. Moreover additional depreciation is allowed in the first year only and that too @20% and not 15%.
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