INCOME-TAX (FOURTH AMENDMENT) RULES, 2012 – AMENDMENT IN THE TABLE OF THE NEW APPENDIX I

NOTIFICATION NO. 15/2012 [F.NO.149/21/2010-SO (TPL)]/S.O.694(E), DATED 30-3-2012

In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-

1. (1) These rules may be called the Income-tax (4th Amendment) Rules, 2012.

(2) They shall come into force on the 1st day of April, 2012.

2. In the Income-tax Rules, 1962, in the Table, in the New Appendix I, in Part-A relating to Tangible Assets, under the heading “III. Machinery and Plant”, in item (8), in sub-item (xiii), –

(a) In clause (l), after the words, “which run on wind mills”, the words, figures and letters, “installed on or before 31st day of March, 2012”, shall be inserted ; and

(b) In clause (m), after the words, “running on wind energy”, the words figures and letters, “installed on or before 31st day of March, 2012”, shall be inserted.

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Category : Income Tax (27935)
Type : Notifications (15929) Notifications/Circulars (32222)

0 responses to “No More Incentive of 80% Depreciation on Wind Mills Installed after 31-3-2012”

  1. anumohan says:

    VERY STRANGE CONSIDERING THE FACT THAT THIS DID NOT MERIT A MENTION IN THE BUDGET SPEECH OF FM ON MAR 15 2012, WHILE THE DEPRECIATION @80% IS RETAINED IN SCHEDULE 15 OF THE DTC. SO WHAT WAS THE MOMENTOUS FACTOR THAT TIPPED THE LAST MINUTE NOTIFICATION ON THE LAST DAY OF THE FINANCIAL YEAR OF 2012? STRANGE ARE THE WAYS OF THE BUREAUCRACY AND UNFORTUNATELY THEY ARE NEITHER QUESTIONED NOR ACCOUNTABLE TO ANY ONE! SOMETIMES I WONDER WHY WE ATTACH SO MUCH IMPORTANCE TO THE BUDGET SPEECH AND BUDGET OF FM WHEN DEADLIER AND INIMICAL PROVISIONS ARE SILENTLY INTRODUCED / BENEFICIAL SECTIONS PROVISIONS WITHDRAWN BY CIRCULARS ISSUED SURREPTITIOUSLY!

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