Depreciation restriction: domestic companies opting for concessional tax regime face capped allowance on certain asset blocks under new rules. The amendment restricts depreciation allowance for domestic companies opting for the concessional corporate tax regime by capping the allowance in respect of any block of assets to a fixed capped percentage of the written down value of that block, and substitutes specified higher figures in the Rules' Appendix with the capped figure effective from the stated implementation date.
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Provisions expressly mentioned in the judgment/order text.
Depreciation restriction: domestic companies opting for concessional tax regime face capped allowance on certain asset blocks under new rules.
The amendment restricts depreciation allowance for domestic companies opting for the concessional corporate tax regime by capping the allowance in respect of any block of assets to a fixed capped percentage of the written down value of that block, and substitutes specified higher figures in the Rules' Appendix with the capped figure effective from the stated implementation date.
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