TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Income-tax Act Section 43: Explanation 4A Adjusts Asset Cost Rules for Leased or Hired Business Assets, Effective October 1996.</h1> Section 43 of the Income-tax Act is amended by inserting Explanation 4A, effective from October 1, 1996. This provision addresses the scenario where assets used by a second person for business purposes, with claimed depreciation, are acquired by a first person. If the second person acquires these assets from the first person through lease or hire, the actual cost for the first person will be equivalent to the written down value of the assets at the time of transfer by the second person, overriding Explanation 3.
TaxTMI 
TaxTMI 
