Additional Dep. (PGBP)
This query is : Resolved
Quick Summary
Subhrajit Chakraborty
(Querist)
13 December 2022
Can an assessee claim Additional Depreciation every year or is it only allowed for one year?
CA R SEETHARAMAN
(Expert)
13 December 2022
It's allowed for only one year.
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CA R SEETHARAMAN
(Expert)
13 December 2022
As per the Section 32(1) (iia) of the Income Tax Act, 1961 the plants and machinery engaged in the production of a thing are granted a deduction on additional depreciation at the rate of 20% in the year they were purchased
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