Sec 32(1)(iia)- help

516 views 1 replies

Dear All,

kindly tell me, if an asset in put to for less than 180 days & the assessee claims for addtional depreciation (provided it satisfied all the condition in laid in Sec 32(1)(iia) for claiming such deduction)...

1. is that assessee can claim 10% of additional depreciation & rest of 10% in next previous yr (As per IT Ready Reckoner of VK Singhania....or

2. he can claim only 10% additional depreciation.

 

Please give references

Replies (1)

enhanced deprcn given irt "new" P&M @ 20% of actual cost if it was installed and put to use for > 180 days in "yr of installation". if used for < 180 days deprcn given @ "half of normal rate'...hence 10%. it is a one time dedn.

u cn check out TN Manoharan pg.231 "ENHANCED DEPRECIATION".

Hope dis was helpful.. good luck.

 

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