Additional Depreciation u/s 32(1)(iia)
This query is : Resolved
28 April 2010
Under the section, for granting additional depreciation, there is a mandate that "additional depreciation shall be allowed..." (without specifying in the year of purchase).
The querry is " On the eligible asset purchased in the last 180 days of the FY, additional depreciation allowed is only 10%. Can the balance depreciation be claimed in subsequent AY ?"
Give citations, if any, in case the reply is affirmative.
The querry is " On the eligible asset purchased in the last 180 days of the FY, additional depreciation allowed is only 10%. Can the balance depreciation be claimed in subsequent AY ?"
Give citations, if any, in case the reply is affirmative.
28 April 2010
Additional Depreciation is available only in the year when the plant & machinery is first put to use. As such it is not available in the subsequent year.
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