Rate of depreciation under the companies act, 2013

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prakash (Querist)
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08 January 2016 The company office is moving to new office premises which is hired under long term lease for 5years. The cost of interior work including false ceiling & partitions, flooring,painting & miscellaneous work is being capitalised under building.
The query is regarding the depreciation to be applied under the companies act, 2013 as per part c of schedule II.
Can the company choose to write off the building over the period of lease period of 5 years? instead of 3years option mentioned in the schedule under others category

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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08 January 2016 This can't be capitalized under building. Treat it as capital expenditure and charge it over the period of lease 5 years.

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Rate of depreciation under the companies act, 2013

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