Help-depreciation Charged on plant & Machinery
This query is : Resolved
R.Purna Ch. Achary
(Querist)
02 December 2009
Hi,
I am purna working in DAESUNG ELECTRIC INDIA PVT. LTD. AS a Finance & Costing Officer. Our company is Automobile Industries, producing Automobile componets. All Machinery and its spare parts imported from korea. pls help me what are the depreciation as per IT Act
I am purna working in DAESUNG ELECTRIC INDIA PVT. LTD. AS a Finance & Costing Officer. Our company is Automobile Industries, producing Automobile componets. All Machinery and its spare parts imported from korea. pls help me what are the depreciation as per IT Act
CA Deepak S
(Expert)
03 December 2009
I think it is 15%
Murtaza I Bhagat
(Expert)
03 December 2009
15%
03 December 2009
the assessee is eligible to avail additional depreciation @ 20% on new plant and machinery subject to fulfilment of certain conditions. Section 32(1)(iia)
CA Ravi Sisodia
(Expert)
03 December 2009
agree
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