Please Help: ADDITIONAL DEPRECIATION
Posted Date : 27-Sep-2011 , 08:35:12 pm | Posted By CS Moiz Patharia
Is providing additional depreciation on new plant and machinery compulsarily claimed or is it optional
Category : Income Tax | Answers : 2 | Comments : 1 | Hits : 678
Answers
Answer By: Ashish Karundia
Dear Moiz,
Additional Depreciation is compulsory in nature. Please read the language of section 32(iia) you will find it is compulsary. The word used in the section is shall be allowed which means, if the assessee does not claim even then this deduction shall be allowed.
Additional Depreciation is compulsory in nature. Please read the language of section 32(iia) you will find it is compulsary. The word used in the section is shall be allowed which means, if the assessee does not claim even then this deduction shall be allowed.
Answer By: CA. Sachin Data
yes, it is compulsory dear
Comments
CA VIPIN GARG
28-Sep-2011 , 08:52:47 amYah, rightly said by Ashish Ji, but I just want to ask to Moiz Ji that y do you not want to show the additional depreciation in the books because there may other ways, I may suggest you to fullfil your desired wish. Have a nice day Moiz and Ashish Ji..............