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        F. Acts / Amendment Acts

        Section 8 - Amendment of section 32

        Finance (No. 2) Act, 2004
        Chapter III
        DIRECT TAXES

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        Depreciation rate change: statutory percentage for specified asset block reduced, altering capital allowance calculations effective from April. Amendment reduces the statutory depreciation percentage in the first proviso to clause (iia)(B) of section 32(1), lowering the rate used to compute capital allowances for the specified asset block and thereby changing the annual allowance calculation for taxpayers with assets in that class.
                          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 rate change: statutory percentage for specified asset block reduced, altering capital allowance calculations effective from April.

                                Amendment reduces the statutory depreciation percentage in the first proviso to clause (iia)(B) of section 32(1), lowering the rate used to compute capital allowances for the specified asset block and thereby changing the annual allowance calculation for taxpayers with assets in that class.


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