Additional Depreciation
This query is : Resolved
24 July 2007
As per sec 32 addl depn of 20% eligible for plant & machinery - in case put to use for less than 180 days eligible for deduction at 10%. For eg. if I have taken 10% of Rs.250000, actual cost of P& M installed on 1st Nov 05, I will be taking 25000 deduction in 2005-06 and another 25000 deduction in 2006-07. Is that correct
24 July 2007
In my opinion, another depreciation of Rs 25000/- will not be allowed in next year.Additional depreciation is allowable in the year of installation only.
08 August 2023
I agree with expert.
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
- Cgst asmt - 10
- Fy 22-23 --> tyed more in gst 3b vs 2b, any interest?
- TCS ON SCRAP SALE..
- Charity work ISD
- RELATED TO ITR OF POLITICAL PARTY
- Property transferred from cousin through Gift
- How to file form ITR-B Detailes manner as per rule 12AE income tax rules,1962
- Debit note in Gst
- Rejection of the application for the registration of a society in Andhra Pradesh state
- PTEC-payment
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
