https://www.taxtmi.com/acts?id=39565 Section 43 is amended to adjust block of assets valuations where goodwill is included: exclude increases from goodwill acquisitions; permit a reduction for goodwill equal to actual cost less prior depreciation allowed and hypothetical depreciation as if goodwill were sole asset; applicable for the previous year relevant to the assessment year commencing April 1, 2021, when goodwill formed part of the depreciated block in the immediately preceding year; reduction not to exceed the written down value. en-us Tue, 30 Mar 2021 15:00:48 +0530 Thu, 01 Apr 2021 15:00:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=39565 Section 43 is amended to adjust block of assets valuations where goodwill is included: exclude increases from goodwill acquisitions; permit a reduction for goodwill equal to actual cost less prior depreciation allowed and hypothetical depreciation as if goodwill were sole asset; applicable for the previous year relevant to the assessment year commencing April 1, 2021, when goodwill formed part of the depreciated block in the immediately preceding year; reduction not to exceed the written down value. Act-Rules F. Acts / Amendment Acts Tue, 30 Mar 2021 15:00:48 +0530 https://www.taxtmi.com/acts?id=39565