Useful life as per company act 2013

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Engineer
61 Points Posted on 21 June 2021

The company act specifies useful life for single shift. let's say useful life is 20 years. If i use this machine for two or three shifts, then depreciation increases by 50% and 100 %. will my useful life will still be 20 years.

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On 21 June 2021 at 10:26 Report
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Quick Summary
The Company Act 2013 specifies the useful life of assets based on a single shift. Even if a machine is operated for multiple shifts, increasing depreciation, its statutory useful life remains unchanged. Therefore, the asset's useful life under the Act stays the same regardless of operational intensity.

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403 Points Posted on 21 June 2021
Hi Aslam,

I think useful life of the asset doesn't change i.e in ur case it will be 20 years.
1 Reply
On 21 June 2021 at 11:41
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Chartered Accountant
24588 Points Posted on 21 June 2021
Yes useful life still same
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On 21 June 2021 at 11:47

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