Venkata Ramana Sriram (Service) (119 Points)
10 August 2010Can you please provide me the list in resepect of which additional depreciation can be claimed u/s 32.
Can additional depreciation can be claimed in respect of EOT crane.
What is the rate of depreciation for Generator under income tax act.
Please clarify in this regard. thanks in advance.
Regards,
S.V.Ramana.
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 10 August 2010
There is no special list for additional depreciation.
As per Section 32 (iia) additional depreciation can be claimed when any plant or machinery is used for manufacturing or production except aircraft and ship. There are other requirement as well so for that go through Section 32(iia).
Generator are categorised under general machinery and on general machinery depreciation is applicable at the rate of15% p.a.
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