https://www.taxtmi.com/acts?id=15909 The Schedule prescribes useful lives and residual value principles for computing depreciation (including amortisation): companies complying with prescribed accounting standards may follow Part C lives or disclose and justify different lives; other companies must not adopt longer lives or higher residual values than Part C. Regulatory Authority or Central Government notified lives override the Schedule. Part C provides asset-specific useful lives and industry-specific rates; notes require pro rata treatment on additions/disposals, disclosure of methods and departures, limits on residual value, shift-basis adjustments, and transitional carry-forward treatment. en-us Sat, 24 Dec 2011 12:53:00 +0530 Sat, 24 Dec 2011 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15909 The Schedule prescribes useful lives and residual value principles for computing depreciation (including amortisation): companies complying with prescribed accounting standards may follow Part C lives or disclose and justify different lives; other companies must not adopt longer lives or higher residual values than Part C. Regulatory Authority or Central Government notified lives override the Schedule. Part C provides asset-specific useful lives and industry-specific rates; notes require pro rata treatment on additions/disposals, disclosure of methods and departures, limits on residual value, shift-basis adjustments, and transitional carry-forward treatment. Act-Rules Bills Sat, 24 Dec 2011 12:53:00 +0530 https://www.taxtmi.com/acts?id=15909