Amendment to schedule xiv to the companies act,1956

Amendment to Schedule XIV to the Companies Act,1956 – Changes in Depreciation Rate on Plant and Machinery

Section 641 of the Companies Act, 1956 – Schedules, forms and rules – Power to alter Schedules – Alterations in Schedule XIV

NOTIFICATION [F. NO. 2/6/2008-CL.V], DATED 14-12-2011

In exercise of the powers conferred by sub-section (1) of section 641 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following alterations in the Schedule XIV of the said Act namely :-

In Schedule XIV to the Companies Act, 1956, under the heading “II PLANT AND MACHINERY”, under item (ii) relating to special rates, in sub-item B.7, for the entries, the following entries shall respectively be substituted, namely :-

Schedule XIV

Rates of depreciation

F : 2/6/2008 CL-V

-sd-

(U C Nahta)

Director (Inspection & Investigation)

Note:- The Principal Schedule was inserted by the Companies Amendment

Act,1988 and subsequently amended by the following notifications, namely :–

(i) GSR 416(E) dated 14-5-1993;

(ii) GSR 756(E) dated 16-12-1993;

(iii) GSR 788(E) dated 04-11-1994;

(iv) GSR 101(E) dated 01-03-1995;

(v) GSR 500(E) dated 18-8-1998;