TMI BlogSCHEDULE II -See section 123X X X X Extracts X X X X X X X X Extracts X X X X ..... pecified above, the financial statements shall disclose such difference and provide justification in this behalf duly supported by technical advice] (ii) 7 [For intangible assets, the relevant Indian Accounting Standards (Ind AS) shall apply. Where a company is not required to comply with the Indian Accounting Standards (Ind AS), it shall comply with relevant Accounting Standards under Companies (Accounting Standards) Rules, 2006. ], except in case of intangible assets (Toll Roads) created under Build, Operate and Transfer , Build, Own, Operate and Transfer or any other form of public private partnership route in case of road projects. Amortisation in such cases may be done as follows:- (a) Mode of amortisation Amortisation Rate = Amortisation Amount -------------------------------------- x 100 Cost of Intangible Assets (A) Amortisation Amount = Cost of Intangible Assets (A) x Actual Revenue for the year (B) --------------------------------------------------------- Projected Revenue from Intangi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 34 Estimate * Year 11 38 Estimate * Year 12 41 Estimate * Year 13 46 Estimate * Year 14 50 Estimate * Year 15 53 Estimate * Year 16 57 Estimate * Year 17 60 Estimate * Year 18 67.5 Estimate * Total 600 * will be actual at the end of financial year. Based on this the charge for first year would be ₹ 4.16 Crore (approximately) (i.e. ₹ 5/Rs. 600 x ₹ 500 Crores) which would be charged to profit and loss and 0.83% (i.e. ₹ 4.16 Crore/ ₹ 500 Crore x 100) is the amortisation rate for the first year. Where a company arrives at the amortisation amount in respect of the said Intangible Assets in accordance with any method as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ucing 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 melting furnaces 13 Years 2. Plant and Machinery except direct fire glass melting furnaces - Moulds [NESD] 8 Years 3. Float Glass Melting Furnaces [NESD] 10 Years (c) Plant and Machinery used in mines and quarries-Portable under ground machinery and earth moving machinery used in open cast mining [NESD] 8 Years (d) Plant and Machinery used in Telecommunications [NESD] 1. Towers 18 Years 2. Telecom transceivers, switching centres, transmission and other network equipment 13 Years 3. Telecom-Duc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -do- 4. Turbine [NESD] -do- 5. Equipments for Calcination [NESD] -do- 6. Copper Smelter [NESD] -do- 7. Roll Grinder 40 Years 8. Soaking Pit 30 Years 9. Annealing Furnace -do- 10. Rolling Mills -do- 11. Equipments for Scalping, Slitting , etc. [NESD] -do- 12. Surface Miner, Ripper Dozer, etc., used in mines 25 Years 13. Copper refining plant [NESD] -do- (i) Plant and Machinery used in medical and surgical operations [NESD] 1. Electrical Machinery, X-ray and electrotherapeutic apparatus and accessories thereto, medical, diagnostic equipments, namely, Cat-Scan, Ultrasound Machines, ECG Monitors, etc. 13 Years 2. Other Equipments. 15 Years (j) Plant and Machinery used in manufact ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. Ocean-going ships (i) Bulk Carriers and liner vessels 25 Years (ii) Crude tankers, product carriers and easy chemical carriers with or without conventional tank coatings. 20 Years (iii) Chemicals and Acid Carriers : (a) With Stainless steel tanks 25 Years (b) With other tanks 20 Years (iv) Liquified gas carriers 30 Years (v) Conventional large passenger vessels which are used for cruise purpose also -do- (vi) Coastal service ships of all categories -do- (vii) Offshore supply and support vessels 20 Years (viii) Catamarans and other high speed passenger for ships or boats -do- (ix) Drill ships 25 Years (x) Hovercrafts 15 Years (xi) Fishing vessels with wooden hull 10 Years ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t and useful life of that part is different from 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 of the financial year commencing on or after the 1 st April, 2014 and mandatory for financial statements in respect of financial years commencing on or after the 1 st April, 2015. ] 5. 3 [***] 6. The useful lives of assets working on shift basis have been specified in the Schedule based on their single shift working. Except for assets in respect of which no extra shift depreciation is permitted (indicated by NESD in Part C above), if an asset is used for any time during the year for double shift, the depreciation will increase by 50% for that period and in case of the triple shift the depreciation shall be calculated on the basis of 100% for that period. 7. From the date this Schedule comes into effect, the carrying amount of the asset as on that date- (a) shall be depreciated over the remaining useful life of the asset as per this Schedule; (b) after retaining the residual value, 6 [may be ..... 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