[PUBLISHED IN THE GAZETTE OF INDIA, PART

– II, SECTION 3, SUBSECTION

Note:-

(i) EXTRAORDINARY]

GOVERNMENT OF INDIA

MINISTRY OF CORPORATE AFFAIRS

Notification

New Delhi, dated the 14 December, 2011.

G.S.R. (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

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“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 3.34 -- -- -- -- “

percent. percent.

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F : 2/6/2008 CL-V

-sd-

(U C Nahta)

Director (Inspection & Investigation)