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of <h1>Income-Tax Rules Amended: Depreciation Allowance Capped at 40% for Domestic Companies u/s 115BA(4.</h1> The Income-tax (29th Amendment) Rules, 2016, issued by the Central Board of Direct Taxes, amend the Income-tax Rules, 1962. Effective from April 1, 2016, for domestic companies opting under section 115BA(4), the depreciation allowance for any block of assets entitled to more than 40% is capped at 40% of the written down value. Additionally, effective April 1, 2017, in the New Appendix I Table, figures '50', '60', '80', and '100' are replaced with '40'. This notification was published in the Gazette of India and follows the previous amendment made in October 2016.
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