Dep. on Plant & Machinery...Urgent Sir!!!

This query is : Resolved

Rajesh (Querist)
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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.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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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.

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CA. Praveen Narayan

CA. Praveen Narayan (Expert)
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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..

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CA. Praveen Narayan

CA. Praveen Narayan (Expert)
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25 September 2010 EPBX Telephone connector may come under offic equipmnts... so nt availabl..

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