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Section 32(1)(i) - Depreciation for Power Generating Undertakings

Income Tax - Profit and Gains of Business or Profession - 10 - SEC - 32(1)(i): DEPRECIATION FOR POWER GENERATING UNDERTAKINGS Assessees in the business of generation or generation and distribution of power, have the option to claim depreciation on- i .....

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ious year, then TERMINAL DEPRECIATION (in case of loss) is deductible or BALANCING CHARGE (in case of gain) is taxable. Terminal Depreciation or Balancing Charge is calculated as follows- Step I Find out the written down value of the depreciable asse .....

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s of money. Terminal Depreciation- If the amount calculated under Step II is less than the amount of Step I, then the deficiency is deductible as terminal depreciation. The following points should be noted: When asset is sold, discarded etc. in the p .....

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