TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Bill 2017 Amends Section 43: Redefines Actual Cost of Capital Assets with Depreciation Deduction Changes.</h1> Clause 16 of the Finance Bill, 2017 amends Section 43 of the Income-tax Act, focusing on the definition of actual cost for capital assets. It introduces a proviso to Explanation 13, stating that if a capital asset, for which a deduction under Section 35AD was allowed, is deemed income under sub-section (7B), the asset's actual cost will be reduced by the depreciation amount that would have been applicable if the asset had been used for business since acquisition. This amendment is effective from April 1, 2018, applicable from the assessment year 2018-2019 onwards.
TaxTMI 
TaxTMI 