https://www.taxtmi.com/article/detailed?id=5321 Depreciation under the Assam Agricultural Income Tax framework is allowable chiefly at rates and in the manner prescribed by the Indian Income tax Act and Rules; where the Income tax law is silent for a capital asset, the Assam Rules prescribe fallback rates. Durable capital items, including perennial plants and trees used for agricultural benefit, may qualify as depreciable assets under the Assam Act. Unabsorbed depreciation for agricultural income governed by cultivation/processing follows income tax carry forward rules and is not limited by the Assam Act's three year loss carry forward restriction. en-us Wed, 16 Oct 2013 08:16:33 +0530 Wed, 16 Oct 2013 08:16:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5321 Depreciation under the Assam Agricultural Income Tax framework is allowable chiefly at rates and in the manner prescribed by the Indian Income tax Act and Rules; where the Income tax law is silent for a capital asset, the Assam Rules prescribe fallback rates. Durable capital items, including perennial plants and trees used for agricultural benefit, may qualify as depreciable assets under the Assam Act. Unabsorbed depreciation for agricultural income governed by cultivation/processing follows income tax carry forward rules and is not limited by the Assam Act's three year loss carry forward restriction. Articles Income Tax Wed, 16 Oct 2013 08:16:33 +0530 https://www.taxtmi.com/article/detailed?id=5321