https://www.taxtmi.com/acts?id=49031 Depreciation is allowable for specified tangible and intangible assets used wholly and exclusively for business; generally calculated on a block of assets written down value basis, with special computation for power undertakings. Where assets are not wholly used, deductions are proportionately restricted. Acquisition and limited use rules reduce first year deduction; pro rata allocation applies on succession, amalgamation and demerger. Capital works on leased buildings are treated as owned for depreciation. An additional first year allowance applies for new plant meeting exclusions, and disposal shortfalls between written down value and proceeds are deductible if written off. en-us Fri, 14 Feb 2025 16:19:05 +0530 Fri, 14 Feb 2025 16:19:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49031 Depreciation is allowable for specified tangible and intangible assets used wholly and exclusively for business; generally calculated on a block of assets written down value basis, with special computation for power undertakings. Where assets are not wholly used, deductions are proportionately restricted. Acquisition and limited use rules reduce first year deduction; pro rata allocation applies on succession, amalgamation and demerger. Capital works on leased buildings are treated as owned for depreciation. An additional first year allowance applies for new plant meeting exclusions, and disposal shortfalls between written down value and proceeds are deductible if written off. Act-Rules Bills Fri, 14 Feb 2025 16:19:05 +0530 https://www.taxtmi.com/acts?id=49031