- 5 Marks
PT – Nov 2023 – L2 – Q5c – Income Tax Liabilities
Define and distinguish between capital, depreciable, and investment assets under the Income Tax Act.
Question
Section 133 of the Income Tax Act, 2015 (Act 896) provides for the interpretation of capital assets, depreciable assets, and investment assets.
Required:
What are the distinguishing features of capital assets, depreciable assets, and investment assets under the above-mentioned legislation? (5 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Capital Assets, Definitions, Depreciable assets, Income Tax Act, Investment Assets
- Level: Level 2
- Topic: Corporate Tax Liabilities
- Series: NOV 2023