Vikram Mfg. Co. Ltd. located in a backward area in the state of Andhra Pradesh acquired some machinery for ₹ 20 lakhs on 10.8.2019. It was put to use from 1.9.2019. The applicable rate of depreciation is 15%. How much would be the eligible additional depreciation for the assessment year 2020-21 in respect of the said machinery
A. ₹ 3,00,000
B. ₹ 4,00,000
C. ₹ 7,00,000
D. ₹ 20,00,000
Answer:C
Vikram Mfg. Co. Ltd. located in a backward area in the state of Andhra Pradesh acquired some machinery for ₹ 20 lakhs on 10.8.2019. It was put to use from 1.9.2019. The applicable rate of depreciation is 15%. How much would be the eligible additional depreciation for the assessment year 2020-21 in respect of the said machinery
A. ₹ 3,00,000 B. ₹ 4,00,000 C. ₹ 7,00,000 D. ₹ 20,00,000