| New
category of 100% depreciation rates introduced for certain
life saving medical equipments
The Income
Tax (Fifth Amendment) Rules, 2003 has been notified vide Notification
No.S.O. 536(E), dated 9th May,2003, specifying 100 % depreciation
for certain specified Life Saving Medical equipment. The amendment
takes effect on 1st April, 2004, and hence will be applicable
for Assessment Year 2004-05 only ie. For additions of such
assets made during financial year 2003-04. The text of the
Notification is published in 261 ITR St.41. |
