Amendment in the Income- Tax Rules, 1962

Income-tax (Fourth Amendment Rules, 2012 Depreciation restricted to 15% on wind mills installed after 31-3-2012

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.

 Sd/-

 ( J. Saravanan )

Under Secretary (TPL-III)

 Note.-  The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section(ii), vide Notification number S.O.969(E), dated the 26th March, 1962 and last amended by Income-tax ( 3rd Amendment) Rules, 2012, vide Notification S.O. No. 626(E) dated the 28th March, 2012.

profile image

About Taniya

Taniya | Associate

eMinds Legal Consulting Pvt. Ltd. is a Consulting Firm in India specialzing in Corporate Laws, Compliances, Secretarial, FEMA, Indirect Taxation, Cyber Laws & Contracts. The Firm comprises of a team of professionals of Company Secretaries, Lawyers and Chartered Accountants with an in-depth subject matter knowledge and participative industry experience of over 12 years.

Complinity Compliance Software

Complinity Compliance Software

Complinity Compliance Software

Corporate Law Referencer

Corporate Law Referencer

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates