https://www.taxtmi.com/acts?id=49367 Amendment expands allowable depreciation deductions to include tangible assets and specified intangible assets used in business, defines "assets" and "block of assets" to separate tangible and intangible categories, defines "know-how," and provides that where proceeds plus scrap value fall short of written down value on sale/disposal (other than in year of first use) the deficiency, if written off in the books, is allowable; "moneys payable" and "sold" (including exchange and compulsory acquisition) are specified, with an exclusion for certain amalgamation transfers. en-us Thu, 20 Feb 2025 16:30:16 +0530 Thu, 20 Feb 2025 16:30:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49367 Amendment expands allowable depreciation deductions to include tangible assets and specified intangible assets used in business, defines "assets" and "block of assets" to separate tangible and intangible categories, defines "know-how," and provides that where proceeds plus scrap value fall short of written down value on sale/disposal (other than in year of first use) the deficiency, if written off in the books, is allowable; "moneys payable" and "sold" (including exchange and compulsory acquisition) are specified, with an exclusion for certain amalgamation transfers. Act-Rules F. Acts / Amendment Acts Thu, 20 Feb 2025 16:30:16 +0530 https://www.taxtmi.com/acts?id=49367