Hello
I am CA R.Yagnasubramanian. Kindly clarify whether Depreciation is available u/s 32 of the Income Tax Act 1961- for windmill purchased second hand or used windmill. [ This would have already enjoyed depreciation @ 80% in the hands of the previous owner.] If available, kindly clarify the cost on which depreciation is allowable and the rate at which it is available.
it will be new assets for user and cost wil be the amount which u paid to buy . and rate of depreciation will be 80 %.
Arpan Bohra & Co
Hyderabad
CA Inter
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ADY & CO.
New Delhi
Graduate (Any)
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B Thejas and Associates
Bengaluru
CA Foundation
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CCI
Pro
CAclubindia
