A plant consisting of P1, P2 whose WDV on April 1 was 25 Lacs .
New Plant P3 accquried worth Rs. 10 lacs on 15 july
Plant P1 & P2 was sold for Rs. 34 lacs on 20 March
Now total Dep. for year is :
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Normal Dep. : 100000*15% =15000
Additional Dep:.1000000*20% = 200000
Total Dep. 215000
Total Dep. Allowable 100000 (15000+85000) , Since WDV ceases to exist ,Dep. can't exceed WDV
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My question is , if in next year again a new plant is accuried , can additonal dep. of 1.15 lacs which couldn't be claimed earlier can be provided this year
CAclubindia
