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Section 32AC - Investment Allowance

Income Tax - Profit and Gains of Business or Profession - 13 - SEC - 32AC: INVESTMENT ALLOWANCE Section 32AC has been inserted to provide for investment allowance in order to encourage substantial investment in new plant and machinery. ELIGIBLE ASSES .....

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res and installs the new plant & machinery on or after 1st April 2013 but on or before 31st March 2015 (both acquisition and installation should be completed within the above mentioned period) and Aggregate amount of actual cost of such new plant .....

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n and installation should be in same previous year. If the assessee acquires new plant & machinery of 30 crores in PY 31-03-2015 and installs the same in PY 31-03-2016, then deductions shall not be available in PY 31-03-2015 as well as in PY 31-0 .....

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& 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 .....

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2017-18 15% of the actual cost of plant & machinery acquired and installed in previous year 31-03-2017, if its actual cost exceeds 25 crores. No deduction shall be allowed u/s 32AC(1A) if deduction is available u/s 32AC(1). LOCK-IN-PERIOD: There .....

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wed under section 32AC shall be deemed to be the income under the head PGBP of the year in 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 a .....

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which before its installation by the assessee was used either within or outside India by any other person. iii. Any plant or machinery installed in any office premises or any residential accommodation, including accommodation in the nature of a guest .....

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