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
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
- Supply through E-commerce Operators
- Rent lease agreement
- Relief u/s Section 89
- REGARDING SECTION 44AE
- SALE BILL AGAINST GOODS RETURN
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- STCG on ETF gold & silver
- If there is Long term capital gain exists how much total income to be considered
- Sales return eway bill
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
