MANDATARY SUPPORTINGS TO THE ITR

Can additional depreciation e allowed to claim for more than one years as no part of the section restricts it for the one i.e. 1 st year itself?

please provide backings for the same

Replies (8)

while making computation of income, you have to claim depreciation u/s 32. thus you can claim in that year but if profit is not sufficient then it can be carried forward,

ITR is an "Annexure-less Return". The very idea of introduction of ITR forms instead of Saral form was to promote E Filing. E Filing is possible only in the prescribed format. Therefore, no other document is to be attached with the ITR form.

Additional Dep is available in the first year and from the 2nd year onwards, Depreciation will be allowed at normal rates. The asset will be included in the relevant block of assets.

Mr. Sukesh

Additional depreciation is allowed only in the first year, after that normal depreciation rates apply.

Regards

Vijay Kumar

Mr. Sukesh

Additional depreciation is allowed only in the first year on the new machinery pruchased in the manufacturing business , after that normal depreciation rates apply.

Regards

Vijay Kumar

Agree with Mr.vijay kumar

Additional Deprecation will be allowed in year in which machin acquried & installed . if machine acquried in 2007-08 but installed in 2008-09 than additional deprecation will be allowed in 2008-09.

 Mr Sandip

which part of the section specifies that addnl depre can be claimed only in one year

pls do the needful

 

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