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of <h1>Finance Bill 2010 amends Income-tax Act section 32 to regulate depreciation during company transitions to LLPs.</h1> Clause 8 of the Finance Bill, 2010 amends section 32 of the Income-tax Act concerning depreciation. The amendment includes a reference to clause (xiiib) in the fifth proviso of sub-section (1), addressing depreciation in cases where a private or unlisted public company transitions to a limited liability partnership. It ensures that the total depreciation for both predecessor and successor entities does not exceed the prescribed rate as if no succession occurred. This change is effective from April 1, 2011, applicable for the assessment year 2011-2012 and onwards.
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