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reserves

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24 July 2009 what is invesment allowance reserve and development rebate reserve? for what purpose these reserves are utilised?
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
24 July 2009 Up to year 1996-97 u/s 32A a company can claim depreciation of assets up to 150% provided it keeps a part of the value of the machinery in the reserve for 10-15 years,after that it can be utilised as free reserve.
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