Depreciation for ships adjusted to a higher uniform rate under Income-tax Rules, changing tax depreciation treatment. The Income-tax (Fifth Amendment) Rules, 2001 amend the Table to Appendix I of the Income-tax Rules, 1962, Part A relating to Tangible Assets under the heading IV SHIPS by substituting the figures in column 2 for sub-items (1), (2) and (3) with a uniform higher figure; the amendment is made under the power conferred by the Income-tax Act and specifies a commencement date for the new entries.
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Depreciation for ships adjusted to a higher uniform rate under Income-tax Rules, changing tax depreciation treatment.
The Income-tax (Fifth Amendment) Rules, 2001 amend the Table to Appendix I of the Income-tax Rules, 1962, Part A relating to Tangible Assets under the heading IV SHIPS by substituting the figures in column 2 for sub-items (1), (2) and (3) with a uniform higher figure; the amendment is made under the power conferred by the Income-tax Act and specifies a commencement date for the new entries.
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