Additional Depreciation
This query is : Resolved
Abhishek Sinha
(Querist)
27 September 2010
Say, there was an addition of 100 Crores in H2 of FY 09.
In FY 09, (50% of 20%) ie 10% of 100 Crores or 10 Cr has been claimed as additional depreciation.
Total additional depreciation allowed is 20% but for the simple reason of addition in second half, additional 10% is lost.
Under the existing provisions, is there any way to calim the foregone 10% in FY 10
In FY 09, (50% of 20%) ie 10% of 100 Crores or 10 Cr has been claimed as additional depreciation.
Total additional depreciation allowed is 20% but for the simple reason of addition in second half, additional 10% is lost.
Under the existing provisions, is there any way to calim the foregone 10% in FY 10
CA. Abhishek Sinha
(Expert)
28 September 2010
As per Income Tax Act Additional Depreciation is available only in the year in which the new plant and machinery is first put to use.
So i think there is no possibility to avail such benefit.
So i think there is no possibility to avail such benefit.
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