Overview of Schedule II of Companies Act 2013



The Schedule II of the Companies Act, 2013 namely, Useful lives to compute Depreciationhave been brought into effect from 1st April, 2014 with a General Circular 08/2014 dated 4th April, 2014, replacing the Schedule XIV of the Companies Act, 1956 where the rates for providing depreciation were specified as per the SLM and WDV method. For better understanding of the Schedule II of Companies Act, 2013 the terms used in this Schedule shall be discussed. Terms used in Schedule: 1.Depreciati
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