Block of Assets – Section 2(17) | Income-tax Act, 2025 vs 1961

§ 2(17) · Income-tax Act, 2025

Block of assets

ITA 2025 · 2(17) ITA 1961 · 2(11)
Definition — Section 2(17)

Means a group of assets falling within a class of assets comprising tangible assets (building, machinery, plant, furniture) or intangible assets (know-how, patents, copyrights, trademarks, licences, franchises), in respect of which the same percentage of depreciation is prescribed.

Act Comparison
Income-tax Act, 2025
2(17)
Block of assets
Income-tax Act, 1961
2(11)
Block of assets
Key Points
  • Maps to Section 2(11) of the 1961 Act
  • Depreciation is computed on the block as a whole, not individual assets
  • When the block value becomes nil or negative, a capital gain/terminal depreciation arises
💡 Practical Note

The block concept means you don't track individual asset depreciation — the entire pool at a given rate is one block. This simplifies computation but loses individual asset tracking.

Published by Simplified Tax India — Clear, section-wise comparison of Income-tax Acts. ← Back to Section 2 Definitions Table
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