Dep. on Plant & Machinery...Urgent Sir!!!
This query is : Resolved
25 September 2010
Dear Experts,
Tools & Equipments
Electrical Fittings
EPBX Telephone connector
All the above items are purchased during the year and it has also been classified in Block 15%(15% - dep. rate) which is applicable for Plant & Machinery.
Since Plant & Machinery purchased after 31.3.2005 are eligible for additional depreciation @ 20% can i claim the additional depreciation on the above items also?
With regards,
Rajesh.
Tools & Equipments
Electrical Fittings
EPBX Telephone connector
All the above items are purchased during the year and it has also been classified in Block 15%(15% - dep. rate) which is applicable for Plant & Machinery.
Since Plant & Machinery purchased after 31.3.2005 are eligible for additional depreciation @ 20% can i claim the additional depreciation on the above items also?
With regards,
Rajesh.
25 September 2010
Section 32(iia) states that
Provided that no additional depreciationa allowable in respect of—
(C) any office appliances or road transport vehicles; or
So not allowed in the above.
Provided that no additional depreciationa allowable in respect of—
(C) any office appliances or road transport vehicles; or
So not allowed in the above.
Message likes :
1 times
25 September 2010
Additional Depreciation claim is available only in case of Eligible Plant & Machinery, wherein all Plant & Machineries are eligible except the following:
· Ships & Aircrafts; or
· Any machinery/ plant which is and Old/ Second hand.
· Any machinery/ plant installed in any office/ residential accommodation/ guest house accommodation.
· Any machinery/ plant whose total actual cost is allowed as a deduction in computing business income in any if one previous years.
If the above conditions are satisfied, u can claim addl depre on th assets listed by u..
· Ships & Aircrafts; or
· Any machinery/ plant which is and Old/ Second hand.
· Any machinery/ plant installed in any office/ residential accommodation/ guest house accommodation.
· Any machinery/ plant whose total actual cost is allowed as a deduction in computing business income in any if one previous years.
If the above conditions are satisfied, u can claim addl depre on th assets listed by u..
Message likes :
1 times
25 September 2010
EPBX Telephone connector may come under offic equipmnts... so nt availabl..
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Consultancy- Non DTAA
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Experts need help
- Rental income gst and it purpose
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- FTS Taxable under 115A
- Management System (IMS)
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
