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[Cites 0, Cited by 0] [Section 224C] [Entire Act]

State of Uttar Pradesh - Subsection

Section 224C(9) in The U.P. Municipalities Act, 1916

(9)The amount, if any, payable by the [Municipality] [Substituted by U.P. Act No. 12 of 1994.] to the licensee shall be as determined by the Special Officer under sub-sections (5), (6) and (8) and nothing in Section 324 shall be construed to apply in relation to the determination of the amount payable by the [Municipality] [Substituted by U.P. Act No. 12 of 1994.] under this section.Table of depreciation based on the period of life expectancy of various assetsThere shall be deducted for each year in respect of fixed assets employed in the licensee's undertaking such an amount as would, if set aside annually throughout the period specified in the following table and accumulated at compound interest at four per cent per annum, produce at the end of the said period an amount equal to ninety per cent of the original cost of the asset after taking into account the sums already written off or set aside in the books of licensee :
Column 1Description of asset Column 2Number of years or period
A. Land owned under full title Infinite
B. Land held under lease. The period of the lease or the period remaining unexpired onthe assignment of the lease.
C. Assets purchased now, -  
(a) buildingand Civil Engineering works of a permanent character notmentioned above -  
(i) Offices Fifty
(ii) Temporaryerections such as wooden structures. Five
(iii) Roadsother than Kachcha Roads. One hundred
(iv) Others Fifty
(b)Self-propelled vehicles Seven
(c) (i) Officefurniture and fittings. Twenty
(ii) Officeequipment Ten
D. Assets purchased second hand and assets not otherwiseproposed for in this Table. Such reasonable period as the Special Officer determines ineach case having regard to the nature, age and condition of theasset at the time of its acquisition by it.