https://www.taxtmi.com/acts?id=49979 The amendment inserts a new clause in section 32(1) prescribing a specific percentage of actual cost as depreciation for assets of undertakings engaged in generation or generation and distribution of power. It also substitutes the proviso to provide that if such an asset (or an asset under clause (ii)) is acquired and used for business for less than the statutory minimum period in the previous year, the deduction under section 32(1) is restricted to fifty per cent of the amount computed at the prescribed percentage for that asset. en-us Sat, 01 Mar 2025 13:45:30 +0530 Sat, 01 Mar 2025 13:45:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49979 The amendment inserts a new clause in section 32(1) prescribing a specific percentage of actual cost as depreciation for assets of undertakings engaged in generation or generation and distribution of power. It also substitutes the proviso to provide that if such an asset (or an asset under clause (ii)) is acquired and used for business for less than the statutory minimum period in the previous year, the deduction under section 32(1) is restricted to fifty per cent of the amount computed at the prescribed percentage for that asset. Act-Rules F. Acts / Amendment Acts Sat, 01 Mar 2025 13:45:30 +0530 https://www.taxtmi.com/acts?id=49979