Section 179 Bonus Depreciation 2024 India. In 2024, the section 179 deduction limit increases to $1.22 million, with a spending cap on eligible purchases for $3.05 million. First and foremost, business owners need to have sufficient income to utilize section 179, if they.

 — recording the depreciation expense of an asset using section 179 or bonus depreciation can make a huge difference in the taxes you pay. 179 deduction for tax years beginning in 2024 is $1.22 million.