Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Cctv additional depreciation

28 June 2016

Hello Sir, I have a client who installed CCTV camera in factory premises. It is covered under Plant and Machinery @ 15%. I have a query that whether additional depreciation is allowed @ 20% for Income tax or not? Thanks in advance.

Reply
Follow
Share

2 Replies

CA Saurabh Singh (Practising Chartered ) (974 Points)
Replied 28 June 2016

Hi Mansi,

The CCTV camerais installed in factory and also its a part of Plant & machinery all the conditions of the additional depreciation is satisfied you can claim the same.

I want to qoute a case of Hero Moto corp Lt. where the computers were insatalled in supervisory offices in factory compound was considered as eligible for the sec32(1)(iia), hence CCTV installed in factory should qualify the same.

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

shefali gupta (Article assisstant) (22 Points)
Replied 14 February 2018

As we can see that all the conditions for claiming additional depreciation is fulfilled and we also know that CCTV canera comes under the definition of Plant and Machinery so you are entitled to claim additional depreciation.