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Tejas Jasoriya (CPT clear) (284 Points)

20 October 2015

Can anyone plse give an example of sec 32AC (Investment in new plant and machinery) of Income Tax Act 1961

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Miss Rinkal (Student) (1309 Points)
Replied 20 October 2015

Points to remember :

1. Sub section 1 will be applied first and then 1A in sec 32AC.

2. Sub section 1A came into effect only from fy 2014-15

3. Sub section 1 will not be applicable from fy 2015-16

4. Sub section 1A will not be applicable from fy 2016-17

Now

Company	FY 2013-14	FY 2014-15	Deduction u/s 32AC for FY 2013-14	Deduction u/s 32AC for FY 2014-15	Subsection
A	84	27	Nil	16.65	1
B	80	21	Nil	15.15	1
C	75	25	Nil	Nil	-
D	70	25	Nil	Nil	-
E	60	27	Nil	4.05	1A
F	60	40	Nil	6	1A

G	105	20	15.75	3	1
H	70	40	Nil	16.5	1

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