Category Archives for "DEFINITIONS"


Block of Assets is used for charging same rate of depreciation to a particular class of assets having same or similar characteristics. Income Tax Act has prescribed different rates for charging depreciation for different blocks of assets such as buildings,intangible assets,etc…Depreciation is charged mainly for the purpose of computing Capital Gain

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Amalgamation”, in relation to companies, means the merger of one or more companies with another company or the merger of two or more companies to form one company (the company or companies which so merge being referred to as the amalgamating company or

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