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of <h1>Income-tax Rules Amended: New Categories for Tangible and Intangible Assets, Including Computers and Ships, Effective April 1999.</h1> The Income-tax (Twelfth Amendment) Rules, 1998, issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, amends the Income-tax Rules, 1962. Effective from April 1, 1999, the amendments include the insertion of a new heading 'A. TANGIBLE ASSETS' above 'I. BUILDINGS' in Appendix I. Additionally, under 'III. MACHINERY AND PLANT,' a new item '(2B) Computers 60%' is added, and under 'IV. SHIPS,' a new heading 'B. INTANGIBLE ASSETS' is introduced, listing assets like know-how, patents, and trademarks with a depreciation rate of 25%.
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