Section 641(1) of the Companies Act, 1956 - Power to alter Schedules - Alterations in Schedule XIV - GSR 788(E), - Companies Law

NOTIFICATION NO. GSR 788(E), DATED 4-11-1994, ISSUED BY THE DEPARTMENT OF COMPANY AFFAIRS, MINISTRY OF LAW, JUSTICE AND COMPANY AFFAIRS Subject:- Section 641(1) of the Companies Act, 1956 - Power to alter Schedules - Alterations in Schedule XIV GSR 788(E).- In exercise of the powers conferred by sub-section (1) of section 641 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following alterations in Schedule XIV (hereinafter referred to as the said Schedule) to the said Act, namely: In the said Schedule, under the heading "II. Plant and Machinery", under item ( ii ) relating to special rates, ( a ) for sub-item B. 1 and the entries relating thereto, the following shall be substituted, namely : RATES OF DEPRECIATION Nature of assets Single Shift Double Shift Triple Shift WDV SLM WDV SLM WDV SLM 1 2 3 4 5 6 7 "B.1 Aeroplanes, Aero Engines, Simulators, Visual System and Quick Engine Change Equipment. (NESD) 16.2 5.6 per cent per cent ( b ) sub-item C.1 shall be omitted.