Additional depreciation on plant & machinery as per i.t.act
This query is : Resolved
16 May 2013
As per section 32(1) of I.T. Act,an Additional Depreciation @20% is also admissible to Assesse engaged in manufacturing of any article in respect of New Plant & machinery if the same are installed after 31.03.2005 in addition to normal depreciation.Now the query is how many years the same will be claimed i.e. either in the very first year in which year the Plant & Machinery was installed or in subsquent years also.
Guest
Guest
(Expert)
16 May 2013
Additional depreciation is allowed once, just very first time.
And never after that
And never after that
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