https://www.taxtmi.com/acts?id=11692 Capital allowances comprise depreciation, initial depreciation, terminal allowance, scientific research and development allowance, deferred revenue expenditure allowance and a prescribed deposit scheme deduction. Depreciation, initial depreciation and terminal allowance are allowable only for business capital assets owned, wholly or partly, and used for the business; the ownership requirement does not apply to buildings held under lease or other right of occupancy, and assets under a financial lease are deemed owned. Deferred revenue expenditure allowance is computed in accordance with the Twenty second Schedule. en-us Thu, 16 Sep 2010 18:34:18 +0530 Fri, 17 Sep 2010 13:25:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11692 Capital allowances comprise depreciation, initial depreciation, terminal allowance, scientific research and development allowance, deferred revenue expenditure allowance and a prescribed deposit scheme deduction. Depreciation, initial depreciation and terminal allowance are allowable only for business capital assets owned, wholly or partly, and used for the business; the ownership requirement does not apply to buildings held under lease or other right of occupancy, and assets under a financial lease are deemed owned. Deferred revenue expenditure allowance is computed in accordance with the Twenty second Schedule. Act-Rules Bills Thu, 16 Sep 2010 18:34:18 +0530 https://www.taxtmi.com/acts?id=11692