Investment Allowance - Section 32AC

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....lled during 2013-14(FY/PY) and 2014-15. Eligible Assessee: * Deduction is available only to a Company (Indian as well Foreign) and * Company must be engaged in the business or manufacture or production of any article or thing. Conditions to be satisfied: Section 32AC(1) i.e. 100 CRORES SCHEME * Assessee acquires and installs the new plant & machinery on or after 1st April 2013 but on or b....

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....lled during previous year 2013-14, if actual cost exceeds 100 crores. For AY 2015-16 15% of the actual cost of new plant & 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 acquired and installed in previo....

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....all 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 amalgamated company or the resulting company should not transfer the new asset within 5 years (from its installation by amalgamating or demerged company). Plant & Machinery no....