additional depriciation
This query is : Resolved
25 March 2010
WHAT IS ADDITIONAL DEPRECATION AND HOW IS IT APPLIED OR CALCULATED
25 March 2010
in case of New Machiner which is to be used for the purpose of manufacturing or production of an article or goods,
An additional depreciation @ 20% is allowed to the assessee in addition to the normal 15% depreciation.
Calculation:
if assets used for more than 180 days= 20% of cost of machinery
if less than 180 days= 10% of cost
and Plus
normal depreciation= 15% or 7.5% of cost.
it is allowed in the first year of addition only.
An additional depreciation @ 20% is allowed to the assessee in addition to the normal 15% depreciation.
Calculation:
if assets used for more than 180 days= 20% of cost of machinery
if less than 180 days= 10% of cost
and Plus
normal depreciation= 15% or 7.5% of cost.
it is allowed in the first year of addition only.
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