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Amendment in Schedule XIV of Companies Act, 1956 - GSR NO. 101(E), - Companies LawExtract NOTIFICATION NO. GSR NO. 101(E), DATED 1-3-1995 Subject:- Amendment in Schedule XIV of Companies Act, 1956 G.S.R. NO. 101(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 amendments in Schedule XIV, namely : 1. In the said Schedule : (a) the words "other than those" appearing in sub-item (b) of item (i) under the heading "II Plant and Machinery" shall be omitted; (b) at the end of Note No. 8, the following proviso shall be inserted, namely : " Provided that where the aggregate actual cost of individual items of plant and machinery costing Rs. 5,000 or less constitutes more than 10 per cent of the total actual cost of plant and machinery, rates of depreciation applicable to such items shall be the rates as specified in Item II of the Schedule."
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