depreciation

[Guest]

without offering income can deprecaition allowable on wind mill or not

AI Summary

Depreciation on windmill not allowed if claiming exemption under Section 80IA; applies to income post-expenditure deduction. A user inquired whether depreciation on a windmill is allowable without offering income, specifically under income tax considerations. One respondent clarified that if claiming an exemption under section 80IA, the exemption applies to income after deducting expenditures, including depreciation, so separate depreciation allowance is not permitted. Another respondent simply confirmed that depreciation is not allowable in this context.