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of <h1>Income Tax Bill 2025: Clause 41 Introduces New Standards for Calculating Written Down Value of Depreciable Assets</h1> The Income Tax Bill, 2025, introduces Clause 41, focusing on the calculation of the written down value (WDV) of depreciable assets, crucial for determining taxable income under business profits. This clause aims to standardize WDV calculations, minimize disputes, and align with modern business practices. It includes detailed methods for asset valuation, depreciation allowances, and adjustments for mixed income sources. Compared to Section 43 of the Income-tax Act, 1961, Clause 41 offers a more precise and contemporary approach, addressing ambiguities and reflecting changes in corporate structures. Businesses must ensure compliance to optimize tax planning and avoid penalties.
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