SCHEDULE II – Useful Lives to Compute Depreciation PART – B

Published On - April 1, 2014

admin Companies Act 2013
Short Title, Extent, Commencement and Application

Schedule II

Notified Date of Section: 01/04/2014

(See section 123)

USeful Lives to Compute Depreciation

Part ‘B‘

4. The useful life or residual value of any specific asset, as notified for accounting purposes by a Regulatory Authority constituted under an Act of Parliament or by the Central Government shall be applied in calculating the depreciation to be provided for such asset irrespective of the requirements of this Schedule.