https://www.taxtmi.com/acts?id=18778 A new deduction under section 32AC allows a manufacturing company to claim fifteen per cent of the actual cost of qualifying new assets acquired and installed in a previous year when the aggregate actual cost exceeds the statutory threshold; the provision excludes assessees who may claim under the original sub-section (1) for the assessment year commencing 1 April 2015 and is expressly disallowed for assessment years commencing on or after 1 April 2018, with sub-section (2) amended to include the new sub-section. en-us Mon, 11 Aug 2014 17:39:08 +0530 Wed, 10 May 2017 14:55:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=18778 A new deduction under section 32AC allows a manufacturing company to claim fifteen per cent of the actual cost of qualifying new assets acquired and installed in a previous year when the aggregate actual cost exceeds the statutory threshold; the provision excludes assessees who may claim under the original sub-section (1) for the assessment year commencing 1 April 2015 and is expressly disallowed for assessment years commencing on or after 1 April 2018, with sub-section (2) amended to include the new sub-section. Act-Rules F. Acts / Amendment Acts Mon, 11 Aug 2014 17:39:08 +0530 https://www.taxtmi.com/acts?id=18778