Depreciation
This query is : Resolved
akhil joseph
(Querist)
23 August 2013
A company bought a plant & Machinery during the year. Its included under the Income tax block of claiming 80% depreciation. Its capitalized before september, ie eligible for 20% additional depreciation.
As a result i can claim 100% depreciation(80% normal+20% additional).
Can i claim the same? Is that allowable as per income tax Act?
As a result i can claim 100% depreciation(80% normal+20% additional).
Can i claim the same? Is that allowable as per income tax Act?
CA PARAS BAFNA
(Expert)
23 August 2013
Yes,100% Depreciation can be claimed in the manner you have stated.
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