Alterations in the Schedule XIV of the Companies Act, 1956 in respect of Intangible Assets

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..... 56), the Central Government hereby makes the following further alterations in the Schedule XIV of the said Act, namely:- In Schedule XIV to the Companies Act, 1956, after serial number IV relating to Ships and the entries relating thereto, the following serial number and entries shall be inserted, namely:- "V- Intangible Assets 1. Intangible Assets (Toll Road) created under Build, Operate and T .....

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..... n amount or rate should ensure that the whole of the cost of the intangible asset is amortized over the concession period. Total Revenue shall be reviewed at the end of each financial year and the projected revenue shall be adjusted to reflect any changes in the estimate which will lead to the actual collection at the end of the concession period. 3. For Example:‑ Cost of creation of Inta .....

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..... '*' will be actual at the end of financial year. Based on this the charge for first year would be Rs. 4.16 Crore (approximately) (i.e. Rs. 5/Rs. 600 X Rs. 500 Crores) which would be charged to profit and loss and 0.83% (i.e. Rs. 4.16 Crore/Rs. 500 Crore X 100) is the amortization rate for the first year." [F. No.17/292/2011 CL-V] Renuka Kumar Joint Secretary to the Government of India Note: - .....

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