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sec-32 (Income Tax)

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This query is : Resolved



( Author )
02 August 2010

Under sec.32 normal dep. is not allowed as deuction if value of block of asset(plant & mach.) is nil. Is it true in case of additional depreciation also?




CA. SANAT PYNE

( Expert )
02 August 2010

YES IT IS TRUE,
AS PER INCOME TAX DEPRECIATION MEANS NORMAL DEPRECIATION AND ADDITIONAL DEPRECIATION.


Aditya Maheshwari

( Expert )
02 August 2010

Yes. Anything into zero is zero only.


Taranjit Singh

( Expert )
02 August 2010

Correct.


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