Amendment_Schedule_XIV_GSR_880E_2011
Section 641 of the Companies Act, 1956 – Schedules, forms and rules – Power to alter Schedules – Alterations in Schedule XIV
NOTIFICATION G.S.R. 880(E)
[F. NO. 2/6/2008-CL.V]
DATED 14-12-2011
G.S.R. 880(E) – 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
| Name of assets | Single Shift | Double Shift | Triple Shift | |||
| W.D.V. | S.L.M. | W.D.V. | S.L.M. | W.D.V. | S.L.M. | |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| “7. Mineral oil Concerns Field operations (above ground). Portable boilers, drilling tools, well-head tanks, etc. (NESD) | 30 per cent | 11.31 per cent | — | — | — | — |
| 7A. Rigs (NESD) | 10 per cent | 3.34 per cent | — | — | — | — “ |
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;
