Additional depreciation
This query is : Resolved
03 October 2008
Dear Sir,
We have imported the machinery from Amada cost around 1.34 core on dt.15.03.2008. we have accounted the same in our books and no depreciation charged during the year F.Y. 2007-08. The Machinery installed & put to use on 15.05.2008.
I would like to know that can we claim additional depreciation on above said machinery during the year 2008-09
Regards,
Baljinder Singh
We have imported the machinery from Amada cost around 1.34 core on dt.15.03.2008. we have accounted the same in our books and no depreciation charged during the year F.Y. 2007-08. The Machinery installed & put to use on 15.05.2008.
I would like to know that can we claim additional depreciation on above said machinery during the year 2008-09
Regards,
Baljinder Singh
03 October 2008
No When you have not claimed the basic depreciation, you may not able to claim additional depreciation.
03 October 2008
We have purchase the machinery in F.Y. 2007-08 and not put to use the machinery.
The same machinery installed & put to use in next F.Y. 2008-09 on dt.15.05.2008. Can we claim normal & additional depreication in F.Y. 2008-09
The same machinery installed & put to use in next F.Y. 2008-09 on dt.15.05.2008. Can we claim normal & additional depreication in F.Y. 2008-09
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