Depreciation rules for machinery altered: higher allowances for specified manufacturing before cut-off, lower allowances thereafter. The amendment to Section 33 substitutes the year reference and replaces the sub-clause governing machinery and plant installed after 31st March 1965. It prescribes differentiated capital allowance rates on the actual cost of machinery or plant: higher and lower percentage rates for businesses carrying on activities listed in the Fifth Schedule depending on whether installation occurs before or after a specified cut-off, and a separate, lower pair of percentage rates for any other business, with the changes effective from the stated date.
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Depreciation rules for machinery altered: higher allowances for specified manufacturing before cut-off, lower allowances thereafter.
The amendment to Section 33 substitutes the year reference and replaces the sub-clause governing machinery and plant installed after 31st March 1965. It prescribes differentiated capital allowance rates on the actual cost of machinery or plant: higher and lower percentage rates for businesses carrying on activities listed in the Fifth Schedule depending on whether installation occurs before or after a specified cut-off, and a separate, lower pair of percentage rates for any other business, with the changes effective from the stated date.
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