Schedule II of the Companies Act, 2013 deals with provision related to “useful life to compute depreciation”. This is second schedule of this Act which was amended before it may come into force in its original form.
A Notification published in Official gazette on 31st March 2014 amended the schedule with effect from 1st April 2014. These amendments were:
- In Part “A” Para 3 sub – paragraphs (i) to (iii) were substituted.
- In Part “C” Para 5, in Item IV, in sub – item (i); clause (b) was substituted.
- Under heading Notes appearing after Part “C”, Paragraph 5 was omitted.
Thereafter amended Schedule came into in force with effect from 1st April 2014.
AishMGhrana 