Additional depreciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2015 Dear experts,
Plz clarify my doubt.. suppose we have purchased machinery on 10/4/2015 of Rs. 100000/- and this machinery was put to use on 20/4/2015, plzz clarify can we claim both dep. 15% basic and 20% addi. Dep. While filling return for AY 2015-16, plzz solve my query with an example if possible.....

Regard
Anant chhabra

CA RAKESH KUMAR THAKUR

CA RAKESH KUMAR THAKUR (Expert)
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18 December 2015 first of all let me know your nature of business and whether this is a old machine or new machine

Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2015 This machine is new & will be used in shoes manufacturing....

Ankur Singhal

Ankur Singhal (Expert)
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18 December 2015 Since it is new and to be used for manufacturing, you can claim depn and additional depn simultaneously.

BAsic depreciation @15% - Rs.15000/-
Additional DEpn @20% - Rs.20000/-
Total DEpn RS.35000/-
Closing WDV - RS.65000/-