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of <h1>Income Tax Bill 2025: Clause 33 Modernizes Depreciation Deductions for Business Assets, Aligning with Recent Judicial Interpretations</h1> Clause 33 of the Income Tax Bill, 2025, introduces updated provisions for depreciation deductions on tangible and intangible assets used for business or professional purposes. It aims to provide clarity and consistency in tax calculations, incentivizing investment in new technology and infrastructure. Key features include depreciation for power generation assets, rules for assets used less than 180 days, and provisions for succession and leasehold improvements. Compared to Section 32 of the Income-tax Act, 1961, Clause 33 offers more detailed guidance and modernizes the approach to depreciation, aligning with recent judicial interpretations and business practices.
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