Additional depreciation

Save Share

This query is : Resolved

hitendra joshi (Querist)
Follow

20 September 2013 Machinery has been installed before 30th sept
amounting to Rs.10 lacs The opening block of Rs. 5 lacs was sold for Rs. 8 lacs. Whether additional depreciation will be available on Rs. 10 lacs i.e. cost of new machinery or on Rs. 7 lacs i.e after deducting surplus amount received.

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

23 September 2013 Additional depreciaion is allowed on original cost of machinery
.
.
which is 10 lakhs
.
.
as u said machine installed before 30th september you can claim 20% of additional depreciation

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now