Hi,
Accelerated Depreciation (80% WDV) benefit on wind power projects has been reintroduced by Ministry of Finance, Department of Revenue vide notification no. 43/2014/F.No.152/1/2013-TPL dt. 16th September, 2014.
We have a wind mill project commissioned on 31st March 2015 for which we want to claim AD benefit.
My Questions:
1. If the project needs to be certified by IREDA (Indian Renewable Energy Developement Agency) for accelerated depreciation or we can simply consider the accelerated depreciation while accounting and ITR filing?
2. If the auditor will ask IREDA registration certificate to produce before him in case accelerated depreciation is considered?
3. If yes, is there any guidelines for requirement of IREDA registration for wind mill projects to claim accelerated depreciation.
Can anybody help me out in resolving these queries?
Thanks
Saroj Sahoo
CAclubindia
