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Direct tax

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(Querist)
26 December 2012 Sir/Madam,

Whether the Machinery installed / acquired before 31.03.2005 eligible for additional depreciation of 15%? If so what are the conditions for eligibility?
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Pankaj Gupta

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Pankaj Gupta (Expert)
26 December 2012 It is not allowed on the assets acquired and installed before 1st apr 2005. Moreover additional depreciation is allowed in the first year only and that too @20% and not 15%.
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