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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.Straight Line method on each asset or ii.Written Down value method on block of assets When a depreciable asset (on which depreciation is claimed on straight line basis) of a power generating unit is sold, discarded, demolished or destroyed in a prev .....

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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 previous year in which it is first put to use, any loss arising therefrom is not allowed as terminal depreciation but is treated as capital loss. Terminal Depreciation is allowed only if it is actually written off in the books of the assessee. Balanci .....

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