USEFUL LIVES TO COMPUTE DEPRECIATION

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.... to the, foregoing provisions of paragraph 1,- (i) In case of such class of companies, as may be prescribed and whose financial statements comply with the accounting standards prescribed for such class of companies under section 133 the useful life of an asset shall not normally be different from the useful life and the residual value shall not be different from that as indicated in Part C, provided that if such a company uses a useful life or residual value which is different from the useful life or residual value indicated therein, it shall disclose the justification for the same. (ii) In respect of other companies the useful life of an asset shall not be longer than the useful life and the residual value shall not be higher than th....

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.... (b) continuous process plant for which no special rate has been prescribed under (ii) below [NESD] 8 Years (ii) Special Plant and Machinery   (a) Plant and Machinery related to production and exhibition of Motion Picture Films   1. Cinematograph films-Machinery used in the production and exhibition of cinematograph films, recording and reproducing equipments, developing machines, printing machines, editing machines, synchronizers and studio lights except bulbs 13 Years 2. Projecting equipment for exhibition of films -do- (b) Plant and Machinery used in glass manufacturing   1. Plant and Machinery except direct fire glass melting furnaces -   Recuperative and regenerative glass ....

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....ution Plant 35 Years 7. Gas Storage and Distribution Plant 30 Years 8. Water Distribution Plant including pipelines -do- (g) Plant and Machinery used in manufacture of steel   1. Sinter Plant 20 Years 2. Blast Furnace -do- 3. Coke ovens -do- 4. Rolling mill in steel plant -do- 5. Basic oxygen Furnace Converter 25 Years (h) Plant and Machinery used in manufacture of non-ferrous metals   1. Metal pot line [NESD] 40 Years 2. Bauxite crushing and grinding section [NESD] -do- 3. Digester Section [NESD] -do- 4. Turbine [NESD] -do- 5. Equipments for Calcination [NESD] -do- 6. Copper Smelter [NESD] -do- 7. Roll Grinder 40 Years 8. Soaking....

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.... fittings used in hotels, restaurants and boarding houses, schools, colleges and other educational institutions, libraries; welfare centres; meeting halls, cinema houses; theatres and circuses; and furniture and fittings let out on hire for use on the occasion of marriages and similar functions. 8 Years VI Motor Vehicles [NESD]   1. Motor cycles, scooters and other mopeds 10 Years 2. Motor buses, motor lorries, motor cars and motor taxies used in a business of running them on hire 6 Years 3. Motor buses, motor lorries and motor cars other than those used in a business of running them on hire 8 Years 4. Motor tractors, harvesting combines and heavy vehicles -do- 5. Electrically operated vehicles inclu....

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.... (ii) End user devices, such as, desktops, laptops, etc. 3 Years XIII. Laboratory equipment [NESD]   (i) General laboratory equipment 10 Years (ii) Laboratory equipments used in educational institutions 5 Years XIV. Electrical Installations and Equipment [NESD] 10 years XV. Hydraulic works, pipelines and sluices [NESD] 15 Years Notes.-      1. "Factory buildings" does not include offices, godowns, staff quarters.      2. Where, during any financial year, any addition has been made to any asset, or where any asset has been sold, discarded, demolished or destroyed, the depreciation on such assets shall be calculated on a pro rata basis from the date of such....