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Sir, My company was formed in the Financial Year 2007-08
and during the year there is primary work i.e. instalation
and sitattion work carried on.
Now, the Company has started the Production activity form
the Financial Year 2008-09 i.e. 14/04/2008.
The question is that if the company is entitled to get the
Addition depreciation U/s. 32?
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Answer Posted / priya
Additional depreciation can be only on the new plant and machinery, NEW. Not pre hand. Can be claimed. In the year of purchase. If u have not claimed in the former year, u cannot claim it in the next year....there are too many provisions, read it.
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