Depreciation allocation for vessels: inclusion of inland vessels expands block-wise written-down value division for future tax assessments. The amendment to section 115VK(2) adds 'or inland vessels, as the case may be' so that the written down value of the block of assets consisting of ships (now including inland vessels) is divided between qualifying and non-qualifying vessels in the ratio of their book written down values; the amendment takes effect from 1st April, 2026 and applies to the assessment year 2026-2027 and following years.
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Depreciation allocation for vessels: inclusion of inland vessels expands block-wise written-down value division for future tax assessments.
The amendment to section 115VK(2) adds "or inland vessels, as the case may be" so that the written down value of the block of assets consisting of ships (now including inland vessels) is divided between qualifying and non-qualifying vessels in the ratio of their book written down values; the amendment takes effect from 1st April, 2026 and applies to the assessment year 2026-2027 and following years.
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