Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: due date for vat payment :: empanelment :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: cpt :: VAT RATES :: ACCOUNTING STANDARDS
Latest Circulars »
 Framework for imposing monetary penalty on Authorised Payment Systems Operators / banks under Payment and Settlement Systems Act, 2007
 Evolution of Payment Systems in India: Or is it a Revolution? (Shri R. Gandhi, Deputy Governor - October 22, 2016 - at the Banaras Hindu University, Varanasi)
 RBI-Framework for imposing monetary penalty on Authorised Payment Systems Operators / banks under Payment and Settlement Systems Act, 2007
 RBI-Sovereign Gold Bonds 2016-17 Series III – Operational Guidelines
  Registrations open for NCFE’s NFLAT (National Financial Literacy Assessment Test)
 Sovereign Gold Bond Scheme 2016 -17 – Series III
 Minutes of the Monetary Policy Committee Meeting October 3-4, 2016
 Registrations open for NCFE’s NFLAT (National Financial Literacy Assessment Test)
 Auction for Sale (Re-issue) of 7.35 per cent Government Stock 2024
 Auction of Government of India Dated Securities October 17, 2016
  Setting The Priorities Right (Shri S. S. Mundra, Deputy Governor – September 28, 2016 – at the 3rd SBI Banking and Economics Conclave in Mumbai)

Amendment in schedule II of Companies Act, 2013
September, 10th 2014
                           sEcTroN 3, suB-sEcTIoN (Dl
                                          Govenrment oflndia

                                      Ministry of Corporate Affairs
                                                                  New Delhi, dated the 29d August,20l4

G.S.R.   _(E).-
              In exercise of the powers conferred by sub-section (l) of section 46:- of the
Companies Act, 2013 (18 of 2013), the Central Govemment hereby makes the following
amendments further to amend schedule         II ofthe   said   Act with effect from the date ofpubrication
ofthis notification in the Official Gazette, namely:-

l.    In Schedule II ofthe Companies     Act,20l3,------

(a) in Pan     'A', in paragraph 3, for sub-paragraph (i),          the following sub-paragraph shall be
substituted, namely:-

      "(i) The useful life ofan   asset shall not ondinarily be different   from the useful life specified
      in Part C and the residual value ofan asset shall not be more than five per cent. ofthe original

      cost ofthe asset:

          Provided that where a company adopts a useful life dillerent frorn what is specified in
      Part C or uses a residual value different from the limit specified above, the financial
      statements shall disclose such dillerence and provide justification            in this behalf duly
      supported by technical advice";

(b)   aner Parl 'C', under the heading Nores, --

         (i)    for   paragraph 4 the following paragraph shall be substituted namely:-

           "4(a)    Useful life specified in part   c of the schedule is for whole of the asset and whre
           cost   ofa pad ofthe   asset is significant to total cost   of the      a.sset and   useful life ofthat part
           is differcnt ftom the useful life of the remaining asset, useful life of that significant part
           shall be determined separately.

           (b) The requirement under sub-paragraph (a) shall be voluntary in respect
                                                                                      ofthe financial
           year commencing on or after the 1si April, 2014 and mandatory
                                                                          for financial statements                  in
           respect of financial years commencing on or after the         I
                                                                                  Aplil, 2015."

           (c)      in paragraph 7, in sub-paragraph (b) for the words ,,shall be recognized,,, the
           words "may be recognized" shatt be substituted.

                                                                                   File Number I 7/602012-CL-V

                                                              Joint Secretary to the Govemment of India

Note.-    Schedule- U   ofthe Companies Ac! 2013 came into force with effect fiom the ln April, 2014 and
w^as   amended (with effect  fiom l, April, 2014) vide notification number SO 237(E), dared the 31. March,
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions