DEPRECIATION – ALLOWABLE AMOUNT AND ACTUAL ALLOWANCE AGAINST CHARGEABLE PROFITS OR GAINS two important concepts in section 32 on the Income-tax Act, 1961.

DEPRECIATION – ALLOWABLE AMOUNT AND ACTUAL ALLOWANCE AGAINST CHARGEABLE PROFITS OR GAINS two important concepts in section 32 on the Income-tax Act, 1961. https://www.taxtmi.com/article/detailed?id=1562 Section 32 distinguishes a quantified allowable depreciation under subsection (1), computed at prescribed rates on SLM or WDV, from the actual amount permitted in assessment under subsection (2), which may be restricted to the extent of chargeable profits. Unallowed depreciation due to inadequate chargeable income is carried forward and treated as part of subsequent years' depreciation and for computing written down value. en-us Sat, 07 Jan 2012 10:08:05 +0530 Sat, 07 Jan 2012 10:08:05 +0530 TaxTMI RSS Generator DEPRECIATION – ALLOWABLE AMOUNT AND ACTUAL ALLOWANCE AGAINST CHARGEABLE PROFITS OR GAINS two important concepts in section 32 on the Income-tax Act, 1961. https://www.taxtmi.com/article/detailed?id=1562 Section 32 distinguishes a quantified allowable depreciation under subsection (1), computed at prescribed rates on SLM or WDV, from the actual amount permitted in assessment under subsection (2), which may be restricted to the extent of chargeable profits. Unallowed depreciation due to inadequate chargeable income is carried forward and treated as part of subsequent years' depreciation and for computing written down value. Articles Income Tax Sat, 07 Jan 2012 10:08:05 +0530 https://www.taxtmi.com/article/detailed?id=1562