Section 32(1) (iia) of income tax act
This query is : Resolved
05 March 2015
Section 32(1) (iia) of Income Tax Act, 1961, which provides for additional depreciation of 20% is amended to provide that the balance 50% (i.e., 50% of 20%) of the additional depreciation on new plant or machinery acquired and used for less than 180 days which has not been allowed in the year of acquisition and installation of such plant or machinery, shall be allowed in the immediately succeeding previous year. [Applicable from A.Y. 2016-17]
PLEASE SOMEBODAY CLARIFY ABOVE WITH EXAMPLE
PLEASE SOMEBODAY CLARIFY ABOVE WITH EXAMPLE
05 March 2015
https://taxguru.in/income-tax/section-32ac-aid-prosper-manufacturing-sector.html
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05 March 2015
Thanks Mr. Tushar for prompt response.
05 March 2015
you are welcome vijay bhatt..........
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