Additional depreciation
This query is : Resolved
29 October 2014
Dear Sir/Madam,Please clarify, if new plant and machinery is purchased by a manufacturer or producer of an article or thing in the first half of a financial year and also SOLD IN THE SAME FINANCIAL YEAR, can full 20% additional depreciation be claimed on it?
Prakash Kochar
(Expert)
29 October 2014
Depre. is not allowable on fix asset in a year during which asset is sold.
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