TaxTMI 
TaxTMI 
Notification for Amendment to Schedule II
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....t, 2013 (18 of 2013), the Central Government hereby makes the following alterations to Schedule II to the said Act, namely:- 1. In Schedule II, (1) in Part 'A', in para 3, for sub-paragraphs (i) to (iii), the following sub-paragraphs shall be substituted, namely:- "(i) The useful life of an asset shall not be longer than the useful life specified in Part 'C' and the residual value of an asset s....
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....ets (A) Amortisation Amount = Cost of Intangible Assets (A) x Actual Revenue for the year (B) --------------------------------------------------------- Projected Revenue from Intangible Asset (till the end of the concession period) (C) (b) Meaning of particulars are as follows :- Cost of Intangible Assets (A) = Cost incurred by the company in accordance with the accounting standards. Act....
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....Assets : 2 Years Intangible Assets to be amortised in : 18 Years Assuming that the Total revenue to be generated out of Intangible Assets over the period would be ₹ 600 Crores, in the following manner:- Year No. Revenue ( In Rs. Crores) Remarks Year 1 5 Actual Year 2 7.5 Estimate * Year 3 10 Estimate * Year 4 12.5 Estimate * Year 5 17.5 Estimate * Year 6 20 Estima....