Enhanced depreciation
This query is : Resolved
anirudh varma
(Querist)
25 January 2018
Hi,
For a manufacturer, Is enhanced depreciation at 20% under section 32(1)(iia) eligible for moulds purchased used for production . Normal rates for moulds is 30%. Please advise.
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For a manufacturer, Is enhanced depreciation at 20% under section 32(1)(iia) eligible for moulds purchased used for production . Normal rates for moulds is 30%. Please advise.
Read more at: https://www.caclubindia.com/experts/login-841040.asp
Rachit Nagpal
(Expert)
25 January 2018
Yes Moulds are eligible for addition depreciation of 20% under section 32(1)(iia) as it forms the plant & machinery provided the same in not second hand.
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