{"id":70,"date":"2015-02-05T00:00:00","date_gmt":"2015-02-04T18:30:00","guid":{"rendered":""},"modified":"2015-12-29T10:41:12","modified_gmt":"2015-12-29T05:11:12","slug":"additional-depreciation-additional-investment-allowance-in-special-development-package-of-andhra-pradesh","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/income-tax\/additional-depreciation-additional-investment-allowance-in-special-development-package-of-andhra-pradesh\/","title":{"rendered":"Additional depreciation, additional investment allowance in Special Development Package of Andhra Pradesh"},"content":{"rendered":"<p><span style=\"text-align:justify\">In terms of Section 46 (2) and Section 46 (3) of the Andhra Pradesh Reorganisation Act, 2014, the Union Government is committed to support Andhra Pradesh, providing Special development package to backward areas and Rayalaseema and North coastal region of the State. It has now been decided that funds amounting to Rs.350 crore (@ Rs.50 crore per District) in seven Backward Districts of Andhra Pradesh may be provided to Government of Andhra Pradesh during 2014-15 for its development activities.&nbsp;<\/span><\/p>\n<div style=\"text-align:justify\">\n<\/div>\n<p><span style=\"text-align:justify\">Besides, an inter-ministerial Joint Committee, constituted by Ministry of Home Affairs, is also taking stock of the situation of Government of Andhra Pradesh to make recommendations to bridge the likely resource gap in the Central Budget 2014-15. However, an adhoc support of Rs. 500 crore for current financial year will be provided to Andhra Pradesh, pending recommendations of the Committee.&nbsp;<\/span><\/p>\n<div style=\"text-align:justify\">\n<\/div>\n<p><span style=\"text-align:justify\">In terms of Section 94(1) of the Andhra Pradesh Reorganisation Act, 2014, the Union Government has to provide appropriate fiscal measures, including offer of tax incentives, to the successor States, to promote industrialisation and economic growth in both the States. In this regard following decisions have been taken: &#8211;&nbsp;<\/span><\/p>\n<div style=\"text-align:justify\">\n<\/div>\n<p><span style=\"text-align:justify\">i.  The manufacturing industries set up in the backward region, as notified, would be given 15% additional depreciation on new plant and machinery in the first year of installation.&nbsp;<\/span><\/p>\n<div style=\"text-align:justify\">\n<\/div>\n<p><span style=\"text-align:justify\">ii.  An additional investment allowance of 15% would be given to industries set up in the backward regions, as notified, for investments made in new plant and machinery in any of the 5 years for which additional concession would be notified. Even if the investment is made in the 5th year, the investment allowance would be available.&nbsp;<\/span><\/p>\n<div style=\"text-align:justify\">\n<\/div>\n<p><span style=\"text-align:justify\">iii.  The additional depreciation allowance, and investment allowance will be provided without insisting on an investment of above Rs. 25 crore.&nbsp;<\/span><\/p>\n<div style=\"text-align:justify\">\n<\/div>\n<p><span style=\"text-align:justify\">Several other proposals including proposals of Department of Industrial Policy &amp; Promotion (DIPP) are under examination.&nbsp;<\/span><\/p>\n<div style=\"text-align:justify\">\n<\/div>\n<div style=\"text-align:justify\">*************<\/div>\n<div style=\"text-align:justify\">\n<\/div>\n<p><span style=\"text-align:justify\">DSM&nbsp;<\/span><\/p>\n<div style=\"text-align:justify\"><\/div>\n<p><span style=\"text-align:justify\">(Release ID :115178)<\/span>&nbsp;   <\/p>\n<div>Source:&nbsp;PIB<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In terms of Section 46 (2) and Section 46 (3) of the Andhra Pradesh Reorganisation Act, 2014, the Union Government is committed to support Andhra Pradesh, providing Special development package to backward areas and Rayalaseema and North coastal region of the State. It has now been decided that funds amounting to Rs.350 crore (@ Rs.50 &#8230; <a title=\"Additional depreciation, additional investment allowance in Special Development Package of Andhra Pradesh\" class=\"read-more\" href=\"https:\/\/taxclick.org\/type\/income-tax\/additional-depreciation-additional-investment-allowance-in-special-development-package-of-andhra-pradesh\/\" aria-label=\"More on Additional depreciation, additional investment allowance in Special Development Package of Andhra Pradesh\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[4],"tags":[50],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Additional depreciation, additional investment allowance in Special Development Package of Andhra Pradesh - All About Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taxclick.org\/type\/income-tax\/additional-depreciation-additional-investment-allowance-in-special-development-package-of-andhra-pradesh\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Additional depreciation, additional investment allowance in Special Development Package of Andhra Pradesh - All About Finance\" \/>\n<meta property=\"og:description\" content=\"In terms of Section 46 (2) and Section 46 (3) of the Andhra Pradesh Reorganisation Act, 2014, the Union Government is committed to support Andhra Pradesh, providing Special development package to backward areas and Rayalaseema and North coastal region of the State. 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It has now been decided that funds amounting to Rs.350 crore (@ Rs.50&hellip;","_links":{"self":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts\/70"}],"collection":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/comments?post=70"}],"version-history":[{"count":0,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts\/70\/revisions"}],"wp:attachment":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/media?parent=70"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/categories?post=70"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/tags?post=70"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}