Additional depriciation

imthiyaz (Tax software Devt professional)   (41 Points)

27 September 2009  

Whether addtional dep can be claimed for subsquent year of purchae or asset put to use ? Or it is applicable for only first year? Sec 32( 1) (iia)   says "in the case of any new machinery or plant (other than ships and aircraft), which has been acquired and installed after the 31st day of March, 2005, by an assessee engaged in the business of manufacture or production of any article or thing, a further sum equal to twenty per cent of the actual cost of such machinery or plant shall be allowed as deduction under clause (ii) :"

Clause (ii) says abt WDV method of dep where in which dep can be claimed for subsquent year also?

Reply me

with thanks