Is it mandatory to claim additional depreciation

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Chandan (Querist)
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13 June 2013 Dear sir,

Explanation 5 of section 32 says that this provisions of this sub-section shall apply whether or not the assessee has claimed the deduction now provision of additional depreciation is explained under clause (iia) of sub section (1) of section 32 which mean explanation 5 is also applicable to clause (iia). i want to know whether my interpretation is correct or not???

Thanks in advance

Rupesh Jain

Rupesh Jain (Expert)
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13 June 2013 yes under income tax depreciation amount will calculate and deduct in value of assets.

if you are not caliming but under income tax ITO take wdv after depreciation .
not the value as ypou shown in books.

Chandan

Chandan (Querist)
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13 June 2013 Thanks Rupesh but i have a doubt regarding calculation of dep. In sec 32(1)(iia)it is no where mentioned dep will be calculated on date of acquired or there is put to use concept. guide me to the best

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