Accounting Standard (AS) 6 on Depreciation Accounting based on general principles of accounting issued by the Council of the Institute of Chartered Accountants of India.

Depreciation rates minimum under Schedule XIV; companies must apply or disclose higher commercial rates and use WDV for managerial remuneration.

Companies must provide depreciation in accordance with the Act and Accounting Standard AS 6; Schedule XIV rates are minimum for assets acquired after applicability, though higher commercial rates justified by bona fide technological evaluation may be applied with disclosure. Where WDV has been used, Schedule XIV WDV rates apply to the written down value; where SLM was in use at the date of Schedule XIV, companies may recompute specified period and amortise unamortised value, continue old SLM rates if following the Department's earlier circular, or apply Schedule XIV SLM rates from the year of change. Managerial remuneration computation requires the WDV method.