32ac (1a) section
This query is : Resolved
Sumit Agrawal
(Querist)
17 March 2016
The eligiblity for claiming investment allowance under 32ac (1a) is to acquire and installed plant & machinery exceeding 25 crore in such previous finacial year...
somewhere any frnd of mine said limit is not restrictd to only SUCH YEAR ..its ANY PREVIOUS YEAR aggreating the amount from 2015-16 to 2016-17
please clear the whole provision
CA Prateek Garg
(Expert)
17 March 2016
No...., Deduction u/s 32AC(1A) is allowable only when value of asset acquired during the year is 25 Cr or more. No aggregation can be done for 2 years.
Aggregation was allowed for deduction u/s 32AC(1) but there is no such provision for deduction u/s 32AC(1A)
Aggregation was allowed for deduction u/s 32AC(1) but there is no such provision for deduction u/s 32AC(1A)
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