Is additional depreciation of 20% on new plant and machinery, available to power sector claiming depreciation under SLM?
Please clarify.
2 Replies
NIKITA
(CA )
(302 Points)
Replied 24 April 2011
+al depn is allowed for P&M used for manufacturing and it shud be new.. As u were charging depn under SLM method, i think depn wont b allowed.. For better clarification refer to section 32
krishna iyer
(Sr.Finance Manager)
(197 Points)
Replied 25 April 2011
Going by s.32, the addl 20% depre is eligibile for an assessee engaged in the business of manufacture or production of any article or thing. There is no bar for SLM method of depre.
Only question to be answered is whether electricity generation is a manufacture .
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