CCS

Income Tax (Deduction for Expenditure on Industry4WRD Readiness AST) (Amendment) Rules 2021

Tax incentives have been announced as part of the Budget 2019 to encourage businesses to work toward reaching Industry4WRD. One of the incentives relates to allowing the deduction for fee expenses incurred on Industry4WRD Readiness Assessment. This incentive is provided under the Income Tax (Deduction for Expenditure on Industry4WRD Readiness Assessment) Rules 2020 with the […]

Income Tax (Accelerated Capital Allowance) (Excursion Bus) Rules 2021

1) Licensed tour operators were given the ACA on capital expenses incurred on the purchase of excursion buses. The ACA provided under the Income Tax (Accelerated Capital Allowance) (Excursion Bus) Rules 2021 can be claimed within a period of 2 years with an initial allowance of 20% and an annual allowance of 40%. 2) Budget […]

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