https://www.taxtmi.com/circulars?id=10360 Initial depreciation allowance grants an additional first-year deduction for specified new ships, aircraft, machinery or plant in selected industries, excluding office appliances and road transport vehicles, and including small-scale undertakings under a value threshold. The allowance is calculated as a percentage of actual cost, is excluded from written down value computation in later years, and is taken into account on disposal, demolition, or when cumulative depreciation would exceed cost; it also affects balancing charge and loss calculations and must be recorded beneath the asset's written down value in assessment orders. en-us Sun, 24 Aug 1975 00:00:00 +0530 Fri, 17 Jun 2011 18:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10360 Initial depreciation allowance grants an additional first-year deduction for specified new ships, aircraft, machinery or plant in selected industries, excluding office appliances and road transport vehicles, and including small-scale undertakings under a value threshold. The allowance is calculated as a percentage of actual cost, is excluded from written down value computation in later years, and is taken into account on disposal, demolition, or when cumulative depreciation would exceed cost; it also affects balancing charge and loss calculations and must be recorded beneath the asset's written down value in assessment orders. Circulars Income Tax Sun, 24 Aug 1975 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10360