Income-tax Act, 1961
Section - 32A - Investment allowance
Investment allowance.32A. (1) In respect of a ship or an aircraft or machinery or plant specified in sub- section (2), which is owned by the assessee and is wholly used for the purposes of the business carried on by him, there shall, in accordance with and subject to the provisions of this section, be allowed a deduction, in respect of the previous year in which the ship or aircraft was acquired or the machinery or plant was installed or, if the ship, aircraft, machinery or plant is first put to use in the immediately succeeding previous year, then, in respect of that previous year, of a sum by way of investment allowance equal to twenty-five per cent of the actual cost of the ship, aircraft, machinery or plant to the assessee :Provided that in respect of a ship or an aircraft or machinery or plant specified in sub-section (8B), this sub-section shall have effect as if for the words "twenty-five per cent", the words "twenty per cent" had been substituted :Provided further that no deduction shall be allowed under this section in respect of-
| (a) | - | any machinery or plant installed in any office premises or any residential accommodation, including any accommodation in the nature of a guest house ; |
| (b) | - | any office appliances or road transport vehicles ; |
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24 October 2026
CA Industrial TraineeFytomax Nutrition Private Limited Aurangabad CA Inter View Details
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