30 November 2007
Our cliant is going to start a business of Oil Exporting, for this thay are purchasing a machinery of rs. 5000000 but our business will be set up after 2 or 3 year, can we claimed additional dep.?
30 November 2007
Additional dep. will be allowed for the new plant and mech. used for manufacturing , so in this case additional depeciation can not be claimed as the machinery is not uased for manufacturing.The additional depreciation can be claimed inthe year i which the macinery will be used for production.
CAclubindia
