Lives are from Schedule II, Part C of the Companies Act 2013 (as amended). Rates assume the standard 5% residual value: SLM = 95% ÷ life; WDV = 1 − (0.05)1/life. Classes marked in the Act as NESD take no extra-shift depreciation. This table covers the principal classes every statutory audit meets; industry-specific special plant (steel, pharma, textiles, mines) carries its own lives in the Act.
| Class | Asset | Useful life (yrs) | SLM % | WDV % |
|---|---|---|---|---|
| I. Buildings | Buildings (other than factory) — RCC frame structure | 60 | 1.58% | 4.87% |
| I. Buildings | Buildings (other than factory) — other than RCC frame | 30 | 3.17% | 9.50% |
| I. Buildings | Factory buildings | 30 | 3.17% | 9.50% |
| I. Buildings | Fences, wells, tube wells | 5 | 19.00% | 45.07% |
| I. Buildings | Temporary structures (incl. temporary sheds) | 3 | 31.67% | 63.16% |
| II. Bridges etc. | Bridges, culverts, bunders, etc. | 30 | 3.17% | 9.50% |
| III. Roads | Carpeted roads — RCC | 10 | 9.50% | 25.89% |
| III. Roads | Carpeted roads — other than RCC | 5 | 19.00% | 45.07% |
| III. Roads | Non-carpeted roads | 3 | 31.67% | 63.16% |
| IV. Plant & Machinery | General plant and machinery (not covered by special rates) | 15 | 6.33% | 18.10% |
| IV. Plant & Machinery | Continuous process plant (no special rate prescribed) | 25 | 3.80% | 11.29% |
| V. Furniture | General furniture and fittings | 10 | 9.50% | 25.89% |
| V. Furniture | Furniture in hotels, restaurants, schools, libraries, etc. | 8 | 11.88% | 31.23% |
| VI. Motor vehicles | Motor cars (other than those used in a business of running them on hire) | 8 | 11.88% | 31.23% |
| VI. Motor vehicles | Motor cars used on hire; motor buses/lorries/taxis used on hire | 6 | 15.83% | 39.30% |
| VI. Motor vehicles | Motor buses, lorries and trucks (other than on hire) | 8 | 11.88% | 31.23% |
| VI. Motor vehicles | Motor cycles, scooters, mopeds | 10 | 9.50% | 25.89% |
| VIII. Aircraft | Aircraft and helicopters | 20 | 4.75% | 13.91% |
| IX. Railway sidings | Railway sidings, locomotives, wagons | 15 | 6.33% | 18.10% |
| X. Ropeways | Ropeway structures | 15 | 6.33% | 18.10% |
| XI. Office equipment | Office equipment | 5 | 19.00% | 45.07% |
| XII. Computers | Servers and networks | 6 | 15.83% | 39.30% |
| XII. Computers | End-user devices — desktops, laptops | 3 | 31.67% | 63.16% |
| XIII. Laboratory equipment | General laboratory equipment | 10 | 9.50% | 25.89% |
| XIII. Laboratory equipment | Laboratory equipment in educational institutions | 5 | 19.00% | 45.07% |
| XIV. Electrical | Electrical installations and equipment | 10 | 9.50% | 25.89% |
| Special P&M | Wind power generation plant (windmills) | 22 | 4.32% | 12.73% |
| Special P&M | Thermal / gas / combined-cycle power generation plant | 40 | 2.38% | 7.22% |
| Special P&M | Hydro power generation plant | 40 | 2.38% | 7.22% |
| Special P&M | Telecom — towers | 18 | 5.28% | 15.33% |
Verify against the current text of Schedule II for amendments and the full special-plant list before relying on a life for reporting. A company may adopt a different life with disclosure and technical justification (Part A, para 3).
The calculator runs SLM/WDV, pro-rata from the date put to use, and shift adjustments; the PPE working paper documents the block roll-forward the way the audit file needs it.
And when the whole fixed-asset register should compute itself from the books — your first audit on CORAA is free.
Yes. Schedule II Part C prescribes 15 years for plant and machinery not covered by a special rate — the single most-used life in Indian fixed-asset registers. At the standard 5% residual value that works out to 6.33% straight-line or 18.10% WDV per year. Special plant (power generation, telecom, pharma, steel, and other listed industries) carries its own lives.
Schedule II lives are the default, not a straitjacket. A company may adopt a different useful life or residual value if it discloses the difference and gives justification backed by technical advice (Schedule II, Part A, para 3(i)). The auditor evaluates that justification — an undisclosed or unsupported deviation is a reporting matter.
Schedule II prescribes lives, not rates. The convention: assume residual value of 5% of original cost (the maximum Schedule II normally allows). SLM rate = 95% ÷ useful life. WDV rate = 1 − (0.05)^(1/life). For 15 years that gives 6.33% SLM and 18.10% WDV — the figures every published rate chart shows.
For assets whose Schedule II entry does not state NESD (No Extra Shift Depreciation), depreciation increases by 50% for the days the asset works double shift, and by 100% for triple-shift days. NESD-marked classes (like most buildings and furniture) get no shift adjustment.
No — and mixing them is a classic audit finding. Schedule II (Companies Act 2013) governs the books and the financial statements; the Income-tax Act Sec 32 block-of-assets WDV rates (15%, 40%, etc.) govern the tax computation. Form 3CD Clause 18 reconciles the two. A company charging income-tax rates in its books misstates depreciation.
