https://www.taxtmi.com/manuals?id=4979 The definition of written down value sets taxable asset values: for assets acquired in the previous year it is actual cost; for earlier acquisitions it is actual cost less depreciation actually allowed (with a proviso limiting inclusion of certain earlier allowances for specified property). For a block of assets the written down value aggregates opening block values and is adjusted for additions, reductions on disposal (including scrap value, not exceeding the increased value), slump sale decreases limited by prior and hypothetical depreciation, and for later years by reducing opening block value by depreciation actually allowed and further adjustments including specified goodwill reductions, subject to the ceiling that reductions do not exceed written down value. en-us Wed, 11 Sep 2024 20:45:00 +0530 Wed, 06 Nov 2024 11:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=4979 The definition of written down value sets taxable asset values: for assets acquired in the previous year it is actual cost; for earlier acquisitions it is actual cost less depreciation actually allowed (with a proviso limiting inclusion of certain earlier allowances for specified property). For a block of assets the written down value aggregates opening block values and is adjusted for additions, reductions on disposal (including scrap value, not exceeding the increased value), slump sale decreases limited by prior and hypothetical depreciation, and for later years by reducing opening block value by depreciation actually allowed and further adjustments including specified goodwill reductions, subject to the ceiling that reductions do not exceed written down value. Manuals Income Tax Wed, 11 Sep 2024 20:45:00 +0530 https://www.taxtmi.com/manuals?id=4979