First Notes - 01 September 2014

First Notes - 01 September 2014

The MCA amends norms relating to useful life and residual value, clarifies certain aspects of capitalisation of costs

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Recently, the Ministry of Corporate Affairs (MCA) has issued certain amendments and clarifications relating to the application of certain provisions of the Companies Act, 2013 (the Act) relating to computation of depreciation expenditure (useful lives and residual values) and capitalisation of costs for power projects.

This issue of First Notes summarises the important aspects arising from amendments to schedule II of the Act, and the MCA clarification on capitalisation of costs by companies engaged in power projects 

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