State the rate of deduction allowable under the Income-tax Act, 1961 while assessing income from business or profession in the following cases: (i) For acquisition and installation of new plant or machinery by a manufact
CS Professional · Advanced Tax Laws and Practice · PYQS · December 2015
State the rate of deduction allowable under the Income-tax Act, 1961 while assessing income from business or profession in the following cases: (i) For acquisition and installation of new plant or machinery by a manufacturing company.
Answer & Explanation:
15% of aggregate amount of actual cost of new assets acquired and installed.
Topics: Income Tax
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