what about additional depreciation

Direct Taxation

additional depreciation has to be given for purchase of new machinery is that correct or not please explain Video Details ------------- P3A - Income Tax (AY24_25) Chp 4.3 - Profits and Gains from Business and Profession (25) #41. Illustration #12

Angry Toshniwal

CA Final

★ 505

25-Mar-24 09:31

414

Answers (3)

Additional depreciation is allowed for purchase of new plant and machinery but it is allowed only to assessee engaged in manufacture of production.

Shiva Teja

Faculty

25-Mar-24 12:07

Sir it also allowed to any assessee engaged in the business of generation or transmission of power

G Creddy

CA Inter

★ 945

27-Mar-24 00:27

G Creddy

Sir it also allowed to any assessee engaged in the business of generation or transmission of power

Yes it is allowed.

Shiva Teja

Faculty

01-Apr-24 11:21