How to claim accelerated depreciation benefits ?

[Guest]

Hi

I am trying to understand what accelerated depreciation is for solar panels. Based on my understanding, there is 80% depreciation for the 1st year. Based on my understanding, we can avail tax benefits for this 80%, i.e we pay lesser tax. For example, for a 1 MW plant the cost of it would be 6 crores. Now, due to accelerated depreciation, I can claim about 1 crore rupees tax benefit, i.e I would pay 1 crore lesser tax on my total income tax. But, what if I am a new company and I do not taxes amounting to crores every year ? How can I claim this 1 crore benefit ?

AI Summary

New Companies Struggle to Claim 80% First-Year Depreciation on Solar Panels Without Sufficient Tax Liability A forum participant inquired about claiming accelerated depreciation benefits for solar panels, specifically the 80% depreciation available in the first year. They understand this allows for significant tax savings, exemplified by a 1 MW plant costing 6 crores, resulting in a potential 1 crore tax reduction. However, they are concerned about how a new company, which may not have a tax liability amounting to crores annually, can effectively claim this 1 crore tax benefit.