India's Central Board of Direct Taxes has published Notification No. 82/2020, which expands the rules regarding the depreciation rate restriction for taxpayers that opt for a reduced tax rate. The restriction generally provides that where a reduced tax rate is claimed, any block of assets entitled to a rate of depreciation greater than 40% will be restricted to 40% on the written down value of the block of assets.
Previously limited to domestic companies that have exercised the option unde…