Additional depreciation @35% on new plant and machinery.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 October 2013
Respected Sir,
I want to know that additional depreciation is allowable @35% (15%+20%) means 20% additional as per Speicial Provision From A.Y.2006-07 onwards this additional Befits also receivable in A.Y.2007-08 ? Since new mancinery not purchased in A.Y.2007-08.
at what rate will be charged on plant and machinery for A.Y.2007-08 ?
I want to know that additional depreciation is allowable @35% (15%+20%) means 20% additional as per Speicial Provision From A.Y.2006-07 onwards this additional Befits also receivable in A.Y.2007-08 ? Since new mancinery not purchased in A.Y.2007-08.
at what rate will be charged on plant and machinery for A.Y.2007-08 ?
12 October 2013
if u are referring to section 32(1)(iia), the additional depreciation was allowable only in the first year.
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