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Additional depreciation

Others 315 views 3 replies
is additional depreciation is allowed if vehicle is used within the factory premises?
Replies (3)

In case of any new machinery or plant (excluding ships and aircraft) acquired and installed after March 31, 2005 by an assessee who is engaged in the business of manufacture or production of any article or thing – additional depreciation under Income Tax Act of 20% of actual cost shall be allowed.

 

From A.Y. 2013-14 the same is also allowed to assessee engaged in the business of generation or generation and distribution of power, where the depreciation is provided on WDV method .

 

From assessment year 2017-18 the same is also allowed to the assessee engaged in the business of transmission of power.

Where the asset is used for less than 180 days then 50% depreciation i.e, 1/2 of 20% (i.e. 10%) is available (Balance 50% of Additional Depreciation can be claimed in next year)

Others  opinion  is also requested  . 

no additional depreciation allowed on vehicle. only on plant and machinery


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