50 or 100 percent of Credit taken for Capital Goods.
This query is : Resolved
Badal Paswan
(Querist)
26 November 2010
What is the rules regarding credit taken for capital goods ? while it was fifty percent adjustable in current year and remaining 50 percent in next year. what is present rules please provide notification.
sudhakar ca cwa
(Expert)
26 November 2010
that is correct. First year of purchase of asset 50% of credit and in any subsequent year remaining 50% of credit provided the asset is in this possession subjest to some exemptions
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Badal Paswan
(Querist)
26 November 2010
Thanks, But current year is it change to rules for such act.
sudhakar ca cwa
(Expert)
26 November 2010
No change in this rule
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