Question

The useful life specified in Part C of Schedule II of the companies act, $2013$ for general plant and machinery is ______ years.

• A. $15$
• B. $8$
• C. $10$
• D. $5$

Answer 1

The correct option is A $15$

1. Companies Act, 2013 specified useful life to compute depreciation under schedule II in part A, part B and part C for assets

2. As per point IV. (Plant and Machinery) of part C of schedule II, plant and machinery divided into two parts:

(i) General rate applicable to plant and machinery not covered under special plant and machinery

(a) Plant and Machinery other than continuous process plant not covered under specific industries: 15 years

(b) Continuous process plant for which no special rate has been prescribed under (ii) below [NESD]: 8 years

(ii) Special Plant and Machinery