pls pls help
This query is : Resolved
CA Vishal kapoor
(Querist)
25 September 2009
Hi ,
My Question is that the asessee is a manufacturing unit & purchase a Crane & used with in the factory for manufacturing purpose. whether he is eligible for claiming addional depreciation u/s 32(1)(iia)..&
Pls describle the below line.This is one of the condition 4 claiming depreciation...
"The condition of Acquisition & Installation of Plant & Machinery should be satisfied simultaneously"
Thanks In Advance
Vishal
My Question is that the asessee is a manufacturing unit & purchase a Crane & used with in the factory for manufacturing purpose. whether he is eligible for claiming addional depreciation u/s 32(1)(iia)..&
Pls describle the below line.This is one of the condition 4 claiming depreciation...
"The condition of Acquisition & Installation of Plant & Machinery should be satisfied simultaneously"
Thanks In Advance
Vishal
CA. Bikash Bogi
(Expert)
29 September 2009
yes.
If the plant & machinary is purchased & put to use in the same year then you can claim additional depreciation
If the plant & machinary is purchased & put to use in the same year then you can claim additional depreciation
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