Amendment to Schedule XIV to the Comapnies Act,1956. - F : 2/6/2008 CL-V - Companies Law

[PUBLISHED IN THE GAZETTE OF INDIA, PART II, SECTION 3, SUBSECTION (i) EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, dated the 14 December, 2011. G.S.R. 880 (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 the Schedule XIV of the said Act namely:-- In Schedule XIV to the Companies Act, 1956 , under the heading II PLANT AND MACHINERY , under item (ii) relating to special rates, in sub-item B.7, for the entries, the following entries shall respectively be substituted, namely :-- Schedule XIV Rates of depreciation Name of assets Single Shift Double Shift Triple Shift W.D.V. S.L.M. W.D.V. S.L.M. W.D.V. S.L.M. 1 2 3 4 5 6 7 7. Mineral oil Concerns Field operations 30 11.31 -- -- -- -- (above ground) percent. percent. Portable boilers, drilling tools, well-head tanks, etc. (NESD) 7A. Rigs (NESD) 10 percent 3.34 percent -- -- -- -- F : 2/6/2008 CL-V -sd- (U C Nahta) Director (Inspection Investigation)