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India Expands 40% Depreciation Rate Restriction for Taxpayers Opting for Reduced Tax Rate

|Approved Changes|India
India

India's Central Board of Direct Taxes has published Notification No. 82/2020, which expands the rules regarding the depreciation rate restriction for taxpayers that opt for a reduced tax rate. The restriction generally provides that where a reduced tax rate is claimed, any block of assets entitled to a rate of depreciation greater than 40% will be restricted to 40% on the written down value of…

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