https://www.taxtmi.com/forum/issue?id=119698 Depreciation is computed under the Income Tax Act on the written down value using prescribed rates; a purchaser of second hand machinery continues depreciation from the next year on the asset's WDV irrespective of the acquirer's internal useful life estimate. Machinery is generally depreciated as part of a block of assets, with depreciation calculated at block level. Tax optimisation options include relying on block treatment, applying higher statutory rates where eligible, claiming investment linked immediate deductions when available, capitalising improvements and depreciating those additions, or recognising capital loss on disposal. en-us Mon, 10 Mar 2025 17:54:41 +0530 Wed, 16 Apr 2025 13:48:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=119698 Depreciation is computed under the Income Tax Act on the written down value using prescribed rates; a purchaser of second hand machinery continues depreciation from the next year on the asset's WDV irrespective of the acquirer's internal useful life estimate. Machinery is generally depreciated as part of a block of assets, with depreciation calculated at block level. Tax optimisation options include relying on block treatment, applying higher statutory rates where eligible, claiming investment linked immediate deductions when available, capitalising improvements and depreciating those additions, or recognising capital loss on disposal. Discussion-Forum Income Tax Mon, 10 Mar 2025 17:54:41 +0530 https://www.taxtmi.com/forum/issue?id=119698