https://www.taxtmi.com/acts?id=48597 Amendments to section 32 expand depreciable ownership to include assets held "wholly or partly", cap aggregate depreciation for succession and amalgamation with apportionment by days of use, and replace sub-section (2) with a hierarchy for unabsorbed depreciation: set off first against business or professional profits, then other heads, and thereafter carry forward with an eight-assessment-year limit except where a company is a sick industrial company, in which case the time limit is suspended until net worth equals or exceeds accumulated losses. en-us Wed, 12 Feb 2025 15:50:49 +0530 Wed, 12 Feb 2025 15:50:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48597 Amendments to section 32 expand depreciable ownership to include assets held "wholly or partly", cap aggregate depreciation for succession and amalgamation with apportionment by days of use, and replace sub-section (2) with a hierarchy for unabsorbed depreciation: set off first against business or professional profits, then other heads, and thereafter carry forward with an eight-assessment-year limit except where a company is a sick industrial company, in which case the time limit is suspended until net worth equals or exceeds accumulated losses. Act-Rules F. Acts / Amendment Acts Wed, 12 Feb 2025 15:50:49 +0530 https://www.taxtmi.com/acts?id=48597