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 ... Summary
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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