CA Archit Grover (Senior Associate) (28 Points)
10 February 2012I want to know whether depreciation will be available to purchaser of wind mill at rate of 80% from already established wind mill player?
Anumanchipalli Sathikonda
(Tax Consultant)
(1559 Points)
Replied 03 March 2012
CA Archi Grover
Please study carefully section 32(1)(i) in conjuction with Rule 5(1A).
If you purchase the wind mill and put it into use for generation of power. You can exercise the option for WDV before the stipulated date for filing of your return of income u/s 139(1) and you can avail the depreciation as you desired.
Best Wishes
Sathikonda
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