Income tax depreciation query

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CA Final Student
243 Points Posted on 28 September 2017

A Plant & Machinery is purchased say in August on which Additional Depreciation is allowed but sold in same year say November.

  1. Is there any restriction to claim Additional Depreciation?
  2. Since asset was used for less than 180 days, should only 50% of depreciation be claimed even if it was purchased in the first half of the year?

Thanks is Advance.

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On 28 September 2017 at 17:25 Report
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883 Points Posted on 28 September 2017
yes...only 50 percent of normal and additional depreciation will be allowed
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On 28 September 2017 at 19:22
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304 Points Posted on 28 September 2017
if block of assets was ceased to exist than no additional depriciation but if there is any assets in that block than you can calim full additional depriciation there is no such conditions of selling
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On 28 September 2017 at 21:45
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304 Points Posted on 28 September 2017
your assets is more than 180 day so you can claim additional depriciation
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On 28 September 2017 at 21:46

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