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Change in the Definition of Actual Cost in respect of Capital Assets in respect of which deduction or part of deduction allowed u/s 35AD - New proviso to the Explanation 13 to Section 43(1) - Budget 2017-18 w.e.f. AY 2018-19

Dated:- 3-2-2017 - Clause - 016 - Amendment of section 43. THE FINANCE BILL, 2017 Clause 16 of the Bill seeks to amend section 43 of the Income-tax Act relating to definitions of certain terms relevant to income from profits and gains of business or .....

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of the assessee in accordance with the provisions of sub-section (7B) of the said section, the actual cost of the asset to the assessee shall be the actual cost to the assessee, as reduced by an amount equal to the amount of depreciation calculated a .....

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