Additional depreciation
This query is : Resolved
09 August 2012
Can a company claim remaining half of additional depreciation on newly added plant & machinery in the subsequent year, if it had claimed 10% additional depreciation in the first year.
09 August 2012
Plant & Machinery newly acquired and put to use in the same previous year for less than 180 days, the additional depreciation shall be provided at 50% of normal rate applicable
No, It can not claim remaining half of additional depreciation in next year.
No, It can not claim remaining half of additional depreciation in next year.
09 August 2012
To Mr. Rahul Gupta
Is there any clarification regarding the same in Income Tax Act, if yes can you please provide the reference of same...
Thank you in advance..
Is there any clarification regarding the same in Income Tax Act, if yes can you please provide the reference of same...
Thank you in advance..
09 August 2012
the concept of “actual cost” is relevant only in the year of acquisition of asset. The concept of actual cost generally does not survive in the second & subsequent years. Additional depreciation is computed with reference to actual cost’. If the concept of actual cost does not survive in the second year, whether the balance of additional depreciation which is based on actual cost would survive?
The words “shall be allowed” refers to the mandatory nature of deduction for Additional Depreciation.
The words “shall be allowed” refers to the mandatory nature of deduction for Additional Depreciation.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- LIC maturity claim whether taxable
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- FCRA 6 E- Intimation
- EXPORT COMMERCIAL INVOICE HSN CODE
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
