21 May 2012

The Income Tax (PIC Automation Equipment) Rules 2012, published on 18 May 2012, will be effective for the Year of Assessment (YA) 2011 onwards.

The Rules contain the prescribed automation equipment schedule for deduction allowed under section 14T and the allowances to be made under section 19A(2A) and (2B) of the Act, as well as the criteria for approving automation equipment.

Source: e-Gazette