Section -32ac

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ritesh (Querist)
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09 September 2014 Dear all
As we all know that in the New finance bill the limit U/S-32AC has been reduced from more than 100 crores to more than 25 corers. so according to this If a company invest more than 25 crores in New plant & machinery then it can get the deduction @25% of the actual cost of assets. As this is applicable from 01.04.2015.so I have following queries-
1) if a co. invest more than 25 crores in the assets in the PY 2014-15,will it get the deduction in the AY 2015-16 or A co. have to invest in the PY 2015-16 to get the deduction in the AY 2016-17?
2) in this section the invest will consider of the co. as a whole or unit wise/plant wise invest in assets.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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09 September 2014 https://www.taxmann.com/Budget2014-15/file/t48/budget-2014-expansion-of-tax-incentive-schemes.aspx

not allowed in 14-15 if that co is already eligible for deduction under 32AC(1)

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