09 September 2014
Dear all As we all know that in the New finance bill the limit U/S-32AC has been reduced from more than 100 crores to more than 25 corers. so according to this If a company invest more than 25 crores in New plant & machinery then it can get the deduction @25% of the actual cost of assets. As this is applicable from 01.04.2015.so I have following queries- 1) if a co. invest more than 25 crores in the assets in the PY 2014-15,will it get the deduction in the AY 2015-16 or A co. have to invest in the PY 2015-16 to get the deduction in the AY 2016-17? 2) in this section the invest will consider of the co. as a whole or unit wise/plant wise invest in assets.
CAclubindia
