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

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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;

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Category : Company Law (3435)
Type : Notifications (15273) Notifications/Circulars (30294)

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