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