In case of further capacity expansion whether depreciation benefit under Income tax Act can be availed
1.Only after the start of commercial production from the expanded capacity ?
2. Once the plant is ready for use even though the commercial production is not started?
B K Biswal
As per Clause (iia) of Sec 32(1)...........Depreciation can be claimed on the machinery installed in the plant irrespective of the commencement of commercial production.
Yes it can be claimed only when the asset is put to use..
depreciation acn be claim from the date on which such asset is put on use..... commercial production is irrelevant....
put to use is important ane not commercial production to claim dep.
kindly tell me the rate of depreciation on vehicles
Vehicles other than on hire 15%
Vehicles on hire 30%
AJAY SINGH AND CO LLP
Thane
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