Additional depreciation
This query is : Resolved
04 July 2013
what is the current rate of additional depreciation as per income tax act on new plant & machinery.
Thanks
Thanks
04 July 2013
20% u/s 32(1)(iia) of the IT Act,1961.
04 July 2013
but Normal dep rate for machinery is 15%.
Anyways thanks
Anyways thanks
04 July 2013
Additional depreciation rate was also 15% for those P & M installed up to 31/03/2005.
05 July 2013
Thanks Sir.
whethere it is availablve on new vehicle for the purpose of transfporting raw material and finished goods from one unit to other. and also on computer and computer software.
whethere it is availablve on new vehicle for the purpose of transfporting raw material and finished goods from one unit to other. and also on computer and computer software.
05 July 2013
Generally NO, because vehicle and computer are considered as 'road transport vehicle', and 'office appliances'. Please see clause (C) of proviso to section 32(1)(iia) of the Income tax Act,1961.
05 July 2013
okay...
Thanks
Thanks
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