https://www.taxtmi.com/acts?id=51564 Deduction is allowed for depreciation of tangible and qualifying intangible assets used wholly and exclusively for business or profession, computed at prescribed rates on written down value for blocks of assets; part use is restricted to a proportionate deduction. Additional first year deduction is available for new machinery or plant in manufacturing or power businesses subject to novelty, installation, use and location conditions, with reduced allowance where assets are used for less than a specified period in the year. Succession, amalgamation and demerger entitlements are capped and apportioned pro rata, and capital works on leased buildings are treated as owned for depreciation. en-us Wed, 13 Aug 2025 18:45:43 +0530 Tue, 26 Aug 2025 13:24:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51564 Deduction is allowed for depreciation of tangible and qualifying intangible assets used wholly and exclusively for business or profession, computed at prescribed rates on written down value for blocks of assets; part use is restricted to a proportionate deduction. Additional first year deduction is available for new machinery or plant in manufacturing or power businesses subject to novelty, installation, use and location conditions, with reduced allowance where assets are used for less than a specified period in the year. Succession, amalgamation and demerger entitlements are capped and apportioned pro rata, and capital works on leased buildings are treated as owned for depreciation. Act-Rules Income Tax Wed, 13 Aug 2025 18:45:43 +0530 https://www.taxtmi.com/acts?id=51564