Can the assesse claim balance additional depreciation with respect to assets purchased in previous year 2014-15 and held for less than 180 days in assessment year 2016-17 under third proviso to S.32(1).
Can the assesse claim balance additional depreciation with respect to assets purchased in previous year 2014-15 and held for less than 180 days in assessment year 2016-17 under third proviso to S.32(1).
Yes Chandrasekhar. Thats what the amendment in the Finance Act 2015 exactly talks about.
If you have purchased an asset in FY 2014-15, and have used the asset for less than 180 days, then you will be able to claim only 50% of the additioal depreciation in AY 2015-16. As per the amendment now in Finance Act 2015, the balance 50% of the additional depreciation can be claimed in the subsequent year, which could not be claimed in the year of acquisition. This is effective from AY 2016-17. So Yes, the balance 50%, please claim in the FY 2015-16 (AY 2016-17)
Hope it clarified.
Regards.
Aditi
Agree with Aditi
You can claim balance 50% in the immediately succeeding previous year. This amendment will apply from AY 2016-17 and subsequent Assessment Year’s.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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