True profits of a business cannot be determined without deduction from the gross profits a certain sum representing the value of the physical depreciation of the asset. Under the Income-tax Act depreciation is provided not only to provide for the value of the physical depreciation but in many cases to provide an incentive for purchase of new assets.The law of depreciation under the Income-tax Act has undergone numerous changes in the recent times. In order to keep the taxpayer abreast with the latest provisions, a comprehensive guide on the law of depreciation was felt necessary. This book is an attempt in this direction.A Chapter on comparison of the provisions relating to depreciation under the Income-tax Act with the provisions of depreciation under Companies Act, has been added to increase the utility of the book.

More Details about Guide to Depreciation under Income-tax Act 1961 9th Edition

General Information  
Author(s)Dr Girish Ahuja and Dr Ravi Gupta
PublisherBharat Law House Pvt Ltd
BindingPaper Back
Publish YearJanuary 2013