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of <h1>Understanding Capital Allowances in Direct Taxes Code Bill 2009: Depreciation, Terminal Allowance & R&D Explained</h1> The computation of capital allowances under the Direct Taxes Code Bill, 2009, involves aggregating amounts for depreciation, initial depreciation, terminal allowance, and scientific research and development allowance on business capital assets. These allowances apply if the asset is owned, wholly or partly, and used for business purposes. Ownership conditions do not apply to capital expenditures on leased buildings. A lessee under a financial lease is deemed the owner of the business capital asset.
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