NISHITH.TV
  • Mumbai
  • Silicon Valley
  • Bengaluru
  • Singapore
  • Mumbai BKC
  • New Delhi
  • Munich
  • New York

Locations

  • Mumbai
  • Silicon Valley
  • Bengaluru
  • Singapore
  • Mumbai BKC
  • New Delhi
  • Munich
  • New York
  • Content
  • Home
  • ABOUT US
  • NDA in the Media
  • Areas of Service
  • Research and Articles
  • Opportunities
  • Contact
  • NDACloud
  • Client Access
  • Member Access
  • Events and Calender
  • How we perform
  • Knowledge anywhere, anytime
  • See our recent deals
  • Up to date legal developments
  • Case studies in M&A

Research and Articles

HTMLPDF

  • Research at NDA
  • Research Papers
  • Research Articles
  • Policy Papers
  • NDA Think Tanks
  • NDA Hotline
  • New Ali Gunjan
  • Japan Desk ジャパンデスク

NDA-Hotline


  • Capital Markets Hotline
  • Companies Act Series
  • Climate Change Related Legal Issues
  • Competition Law Hotline
  • Corpsec Hotline
  • Court Corner
  • Cross Examination
  • Deal Destination
  • Debt Funding in India Series
  • Dispute Resolution Hotline
  • Education Sector Hotline
  • FEMA Hotline
  • Financial Service Update
  • Food & Beverages Hotline
  • Funds Hotline
  • Gaming Law Wrap
  • GIFT City Express
  • Green Hotline
  • HR Law Hotline
  • iCe Hotline
  • Insolvency and Bankruptcy Hotline
  • International Trade Hotlines
  • Investment Funds: Monthly Digest
  • IP Hotline
  • IP Lab
  • Legal Update
  • Lit Corner
  • M&A Disputes Series
  • M&A Hotline
  • M&A Interactive
  • Media Hotline
  • New Publication
  • Other Hotline
  • Pharma & Healthcare Update
  • Private Client Wrap
  • Private Debt Hotline
  • Private Equity Corner
  • Real Estate Update
  • Realty Check
  • Regulatory Digest
  • Regulatory Hotline
  • Renewable Corner
  • SEZ Hotline
  • Social Sector Hotline
  • Tax Hotline
  • Technology & Tax Series
  • Technology Law Analysis
  • Telecom Hotline
  • The Startups Series
  • White Collar and Investigations Practice
  • Yes, Governance Matters.
  • Japan Desk ジャパンデスク

Tax Hotline

November 28, 2001

Depreciation for power units may be cut to 75%

The Central Board of Direct Taxes (CBDT) of India is considering a proposal to lower the hundred per cent depreciation allowance provided in the Income-tax Act, 1961 for power generation devices and power saving devices like gas cylinders and wind mills.

The general opinion among tax authorities is to reduce the existing depreciation allowance to 75 per cent. The I-T authorities think this alone would bring in additional revenue of at least Rs 2,000 crore.

The chief commissioners are of the opinion that continuing with the 100 per cent depreciation was not advisable since it was a major cause of erosion of revenue, most of them had opined.

Also the hundred per cent depreciation has been extensively utilised by certain unscrupulous corporates to avoid taxation by claiming depreciation through the sale and lease back method. This is a convoluted accounting method that help corporates claim depreciation on items that do not actually belong to them.

It may be pointed out that a series of raids carried out by the investigation wing of income-tax department had unearthed the practice of bogus sale and lease back method employed by several corporates.

 
 

Source : The Economic Times, November 28, 2001

Mission and Vision


Distinctly Different

What's New


Regulatory Update 2023: Pharmaceutical and Medical Devices Sector in India
Pharma & Healthcare Update: October 04,2023
Top IT executives joining competitors without adhering to cooling-off period
Quotes : October 04,2023

Events


Webinars

Unlocking Wealth: Navigating Family Offices in GIFT City, Gandhinagar
October 10,2023 - October 10,2023

Seminar

[Luncheon Seminar] The Dawn of India’s New Data Law 2023: Compliance, Governance, and Leadership
October 13,2023 - October 13,2023

Round Table

Investing In Net Zero
July 22,2022 - July 22,2022

This event is over. For event material please click here

News Roundup


News Articles

Reciprocity requirement for enforcement: A roadblock in ease of doing business?
August 24,2023

Quotes

Top IT executives joining competitors without adhering to cooling-off period
October 04,2023

Newsletters


Pharma & Healthcare Update

Regulatory Update 2023: Pharmaceutical and Medical Devices Sector in India
October 04,2023

Yes, Governance Matters.

How To Prioritise People: A Governance Approach To Minimise Layoffs At Startups
October 03,2023

Yes, Governance Matters.

Navigating Governance Challenges: Strengthening Non-Profit Organizations in India
September 30,2023

  • Disclaimer
  • Content
  • Feedback
  • Walkthrough
  • Subscribe
Nishith Desai Associates@2016 All rights reserved.