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TMI BlogInvestment Allowance - Section 32ACX X X X Extracts X X X X X X X X Extracts X X X X ..... y installed during 2013-14(FY/PY) and 2014-15. Eligible Assessee: Deduction is available only to a Company (Indian as well Foreign) and Company must be engaged in the business or manufacture or production of any article or thing. Conditions to be satisfied: Section 32AC(1) i.e. 100 CRORES SCHEME Assessee acquires and installs the new plant machinery on or after 1 st April 2013 but on or before 31 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... actual cost exceeds 100 crores. For AY 2015-16 15% of the actual cost of new plant machinery acquired and installed during previous year 2013-14 and 2014-15, if actual cost exceeds 100 crores, as reduced by deduction already allowed in AY 2014-15 Section 32AC(1A) For AY 2015-16 15% of the actual cost of plant machinery acquired and installed in previous year 31-03-2015, if its actual cost exceeds ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which plant machinery is sold. This shall however not apply if plant and machinery is transferred in a scheme of amalgamation or demerger. However, the amalgamated company or the resulting company should not transfer the new asset within 5 years (from its installation by amalgamating or demerged company). Plant Machinery not eligible for deduction i. Ship or aircraft ii. Any plant or machinery wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s no condition that plant and machinery should be actually put to use. This deduction is not available to power generating units. The deduction will not be restricted to 50%, if plant and machinery purchased and installed is used for less than 180 days during the previous year. - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Commentary Tax Management India - taxmanagemen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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