Depreciation rates updated under income-tax rules to redefine asset blocks and applicable allowances for specified asset classes. The amendment replaces Appendix I of the Income-tax Rules with a revised Table of Rates for admissible depreciation on the written down value method, classifying assets into blocks and prescribing rates for buildings, furniture and fittings, and detailed categories of machinery and plant including vehicle treatments, pollution control, waste heat recovery, cogeneration, specified electrical and burner equipment, renewable energy devices, and other specialised plant and machinery, together with explanatory notes defining key terms and scope.
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Depreciation rates updated under income-tax rules to redefine asset blocks and applicable allowances for specified asset classes.
The amendment replaces Appendix I of the Income-tax Rules with a revised Table of Rates for admissible depreciation on the written down value method, classifying assets into blocks and prescribing rates for buildings, furniture and fittings, and detailed categories of machinery and plant including vehicle treatments, pollution control, waste heat recovery, cogeneration, specified electrical and burner equipment, renewable energy devices, and other specialised plant and machinery, together with explanatory notes defining key terms and scope.
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