Income-tax Act, 1961

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 ;
.... To read the full section download the app from Google Play store Latest Job Openings View all 04 May 2026 Content Writer Intern Interactive Media Pvt Ltd. New Delhi CA Inter View Details 29 April 2026 Associate - Audit, Tax & Compliance Open Co Consulting LLP New Delhi B.Com View Details 22 May 2026 Sr. Financial Analyst - Consolidation Search Synergy Mumbai CA View Details ARTICLESHIP 15 May 2026 ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT YOGESH KAPOOR AND ASSOCIATES New Delhi B.Com View Details 08 May 2026 Paid Assistants Quick Taxperts Private Limited Bengaluru Graduate (Any) View Details ARTICLESHIP 05 May 2026 ARTICLED ASSISTANT JS ADVISORS New Delhi CA Inter View Details 21 May 2026 Associate PWC Kolkata CA View Details 16 May 2026 Audit clerk mgirt & co Bengaluru CA Inter View Details Share  Facebook  Twitter  Linkedin  Reddit  Email  Whatsapp  Gmail  Pocket  Print  Pinterest  PDF  Translate Whatsapp Groups GST Income Tax CA Final CA Inter CAclubindia Login at CAclubindia CAclubindia India's largest network for finance professionals User Name Password Remember Me Forgot Password ? Alternatively, you can log in using: Login with Google Don't have an account? Register Now click here to register