Tag Archives: additional depreciation

Printing business eligible for Additional Depreciation

Additional Depreciation u/s 32(1)(iia) of the Income Tax Act 1961 CIRCULAR NO.15/2015 [F.NO.279/MISC/140/2015/ITJ], DATED 19-5-2016 An assessee, engaged in the business of manufacture or production of an article or thing, is eligible to claim additional depreciation under clause (iia) of sub-section (1) of section 32 of the Income-tax Act, 1961 (hereinafter referred to as the… Read More »

Additional depreciation benefit to business of transmission of power

Finance Bill 2016 Extending the benefit of initial additional depreciation under section 32(1)(iia) for power sector Under the existing provisions of section 32(1)(iia) of the Act, additional depreciation of 20% is allowed in respect of the cost of new plant or machinery acquired and installed by certain assessees engaged in the business of generation and distribution of… Read More »