https://www.taxtmi.com/acts?id=3547 Investment allowance grants a deduction on acquisition or installation of specified new ships, aircraft, machinery or plant used wholly for business, subject to exclusions for office/residential installations, office appliances, road transport vehicles and assets qualifying for other full deductions. The allowance is limited by taxable total income with any unallowed balance carried forward for up to eight assessment years. A required portion must be credited to an Investment Allowance Reserve Account and utilised within ten years to acquire qualifying new assets for the business; misuse or premature disposal renders the allowance wrongly made. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 27 Aug 2025 12:42:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3547 Investment allowance grants a deduction on acquisition or installation of specified new ships, aircraft, machinery or plant used wholly for business, subject to exclusions for office/residential installations, office appliances, road transport vehicles and assets qualifying for other full deductions. The allowance is limited by taxable total income with any unallowed balance carried forward for up to eight assessment years. A required portion must be credited to an Investment Allowance Reserve Account and utilised within ten years to acquire qualifying new assets for the business; misuse or premature disposal renders the allowance wrongly made. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3547