Additional depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 September 2014
During F.Y 2012-13 machines worth Rs.45,50,000 were purchased but not installed.During F.Y 2013-14 Plant worth Rs.48,25,000 was purchased.Both the plant & Machinery were installed in 2013-14 and commercial production started on 15/05/2013.
Question: For Additional Depreciation whether i shall be eligible on Rs.93,75,000 ( 45,50,000+43,25,000) or only on Rs.48,25,000???
Question: For Additional Depreciation whether i shall be eligible on Rs.93,75,000 ( 45,50,000+43,25,000) or only on Rs.48,25,000???
11 September 2014
yes even if installed u are eligible for the same
11 September 2014
Ans. You are eligible for total value of machinery installed during previous year
Yes you can claim Additional depreciation in the year in which installation is completed.
Yes.Date of completion of installation is relevant and not the purchase date for claiming additional depreciation.
Hope you have installation certificate from chartered engineer or the person who installed the machinery in your factory
.
.
to confirm date of installation.
.
.
Installation certificate generally contain words like,
Installation is completed in all respects and machine is ready for commercial production and it is dated..XXXX
Yes you can claim Additional depreciation in the year in which installation is completed.
Yes.Date of completion of installation is relevant and not the purchase date for claiming additional depreciation.
Hope you have installation certificate from chartered engineer or the person who installed the machinery in your factory
.
.
to confirm date of installation.
.
.
Installation certificate generally contain words like,
Installation is completed in all respects and machine is ready for commercial production and it is dated..XXXX
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- 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
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
