https://www.taxtmi.com/acts?id=11694 A person engaged in manufacture or production may claim initial depreciation for a new asset classified as Machinery and Plant if it was not previously used by another, is not installed in office or residential premises, is not an office appliance, and its full cost has not been otherwise deducted. The initial depreciation equals a specified portion of actual cost and is allowed in the first year the asset is used for business, subject to a pro rata restriction where the asset is used for less than the minimum period in that year. en-us Thu, 16 Sep 2010 18:34:43 +0530 Fri, 17 Sep 2010 13:25:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11694 A person engaged in manufacture or production may claim initial depreciation for a new asset classified as Machinery and Plant if it was not previously used by another, is not installed in office or residential premises, is not an office appliance, and its full cost has not been otherwise deducted. The initial depreciation equals a specified portion of actual cost and is allowed in the first year the asset is used for business, subject to a pro rata restriction where the asset is used for less than the minimum period in that year. Act-Rules Bills Thu, 16 Sep 2010 18:34:43 +0530 https://www.taxtmi.com/acts?id=11694