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Income tax related query
Dear Sir,
Purchase of Used WTG machines ( wind mills ) Depreciation benefits under IT Act.
We plan to purchase WTG machines originally installed in the year Mar-2006. In this context, we are under the impression that the used WTGs are eligible for the accelerated deprecation rate of 80%, where as few opinions are against our understanding that used WTGs are eligible only for normal depreciation rate.
Can you please advise.
Replies (1)
Depreciation of 80%is applicable on energy saving devices. Here, stipulation of second hand machinery is not applicable. Rather, I would say that 80% is the normal rate of depreciation on energy saving devices. However, you are not eligible to claim Additional Depreciation on this.
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