Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Depreciation deductions: prescribed cost or WDV rates govern asset allowances; special new machinery allowance and carry forward rules. Depreciation allows deductions for tangible and specified intangible business assets by applying prescribed percentages to actual cost for certain classes or to the written down value of a block of assets. Assets first used for less than 180 days attract half the deduction for that year, with transitional allowances for specified categories. An additional first year allowance applies to qualifying new machinery or plant, subject to exclusions for previously used machinery, office/residential installations and road transport vehicles. Deficiency on sale or destruction (if written off) and carry forward of unabsorbed depreciation are recognized under the sub section.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Depreciation deductions: prescribed cost or WDV rates govern asset allowances; special new machinery allowance and carry forward rules.
Depreciation allows deductions for tangible and specified intangible business assets by applying prescribed percentages to actual cost for certain classes or to the written down value of a block of assets. Assets first used for less than 180 days attract half the deduction for that year, with transitional allowances for specified categories. An additional first year allowance applies to qualifying new machinery or plant, subject to exclusions for previously used machinery, office/residential installations and road transport vehicles. Deficiency on sale or destruction (if written off) and carry forward of unabsorbed depreciation are recognized under the sub section.
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