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of <h1>Section 32AC: Investment Allowance for New Plant and Machinery, Deduction Details, and Eligibility Criteria for 2013-2017.</h1> Section 32AC of the Income Tax Act provides investment allowance to encourage investment in new plant and machinery for companies engaged in manufacturing. For new machinery installed between 2013-2015, a deduction of 15% is available if the cost exceeds 100 crores. For installations from 2015-2017, the threshold is 25 crores. The deduction is not available after April 1, 2018. A 5-year lock-in period applies, with specific exclusions for certain types of machinery. The deduction is additional to depreciation and does not require the machinery to be in use. It is not applicable to power generating units.
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