https://www.taxtmi.com/article/detailed?id=6558 Section 32 permits depreciation on tangible and specified intangible assets used in business; ownership for this purpose depends on possession and dominion rather than formal title. Passive availability of assets can qualify for depreciation if they are ready for use. Proper classification into prescribed blocks and appendices, factual proof of use or readiness, and correct valuation of intangible assets determine the applicable rate, including accelerated or full depreciation for specified items. en-us Fri, 04 Dec 2015 16:08:00 +0530 Fri, 04 Dec 2015 16:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6558 Section 32 permits depreciation on tangible and specified intangible assets used in business; ownership for this purpose depends on possession and dominion rather than formal title. Passive availability of assets can qualify for depreciation if they are ready for use. Proper classification into prescribed blocks and appendices, factual proof of use or readiness, and correct valuation of intangible assets determine the applicable rate, including accelerated or full depreciation for specified items. Articles Income Tax Fri, 04 Dec 2015 16:08:00 +0530 https://www.taxtmi.com/article/detailed?id=6558