2024 Bonus Depreciation Bill In India

2024 Bonus Depreciation Bill In India. The tax cuts and jobs act (tcja) significantly boosted the potential value of bonus depreciation for taxpayers—but only for a limited duration. The bonus depreciation rate was reduced to 80% for property placed in service in 2023, and reduced to 60% for property placed in service in 2024.

At the heart of this legislative overhaul is the provision of 100% bonus depreciation, a move that has stirred discussions across the financial and business communities. The 100% bonus depreciation phased out after 2022, with qualifying property getting only a 60% bonus deduction in 2024 and less in later years.