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Avdhesh (Dy. Manager (Accts))     10 September 2016

Add depreciation u/s 32(1) of i t act on energy saving equip

An industries has invested 1000 Crore in May-2016 on Energy Saving Equipment on which depreciation as per IT Act is available at the normal rate of 80%.

My query:

-Whether this investment is eligible for additional depreciation U/S 32(1) of I T Act?


-If yes, this investment of Rs. 1000 Crore will be fully depreciated (Normal 80% + Additional 20%) in the year of Investment?

However, I personally in view that additional depreciation may be available.

Please reply.



Learning

 2 Replies

Kadem Ramesh (Advocate & Tax Consultant)     19 September 2016

SIR, YOU ARE NOT INFORMED ABOUT YOUR COMPANY PRODUCTION ,

THIS ENERGY SAVING EQUIPMENT IS WHERE IT IS USED.

AND YOUR MAIN PLANT & MACHINERY ? 

sreemannarayana mallela   29 January 2018

dep covered 32

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