Question

Provisions regarding depreciation are contained in _______ of the Companies Act, $2013$.

• A. schedule I
• B. schedule VI
• C. schedule II
• D. schedule XIV

Answer 1

The correct option is C schedule II

Schedule II of the companies act 2013 states the useful life of the asset and the maximum rate to be charged as depreciation for the asset. Schedule II has come to effect from 1st April 2014.