Depreciation calculation for compensation

[See section 5 (3)]. For the purposes of payment of compensation under section 5 (3), the depreciation shall be calculated at annual rates arrived at by dividing ninety per cent of the book value of each asset by the number of years of life of the asset as specified in the table below. For the account year in which an asset was brought into beneficial use, the depreciation shall be calculated at half the annual rate and for the period after the last account year to the date of taking over, the depreciation shall be calculated pro rata. Description of asset. (1) Number of years or period. (2) A. Land owned under full title … Infinite. B. Land held under lease- (a) for investment in the land … The period of the lease or the period remaining unexpired on the assignment of the lease. (b) for cost of clearing the site … The period of the lease remaining unexpired at the date of clearing the site. C. Assets purchased new— (a) Plant and Machinery in generating stations, including plant foundations— (i) Hydro-electric … … Thirty-five. (ii) Steam-electric … … Twenty-five. (iii) Diesel-electric … … Fifteen. (b) Cooling towers and circulating water systems. … Thirty. (c) Hydraulic works forming part of a hydro-electric system including— (i) dams, spillways, weirs, canals, reinforced concrete flumes and syphons. … One hundred. (ii) reinforced concrete pipe-lines and surge tanks, steel pipe-lines, sluice gates, steel surge tanks, hydraulic control valves, and other hydraulic works. … Forty. (d) Buildings and Civil Engineering works of a permanent character, not mentioned above— (i) offices and show rooms … Fifty. (ii) containing thermo-electric generating plant. … Thirty. (iii) containing hydro-electric generating plant. … Thirty-five. (iv) temporary erections such as wooden structures. ... Five. (v) others … Fifty. (e) Transformers, transformer kiosks, sub-station equipment and other fixed apparatus (including plant foundations)- (i) Transformers including foundations) having a rating of 100 kilovolt amperes and over. … Thirty-five. (ii) others … Twenty-five. (f) Switchgear, including cable connections … Twenty. (g) Batteries … Ten. (h) (i) Underground cables, including joint boxes and disconnecting boxes. … Forty. (ii) Cable duct system … Sixty. (i) Overhead lines, including supports- (i) lines on steel or reinforced concrete supports operating at nominal voltages higher than 13.2 kilovolts. … Thirty. (ii) other lines on steel or reinforced concrete supports. … Twenty-five. (iii) lines on wood supports … Twenty. (j) Meters … Fifteen. (k) Self-propelled vehicles … Seven. (l) Static machine tools … Twenty. (m) Air conditioning plant- (i) Static … Fifteen. (ii) Portable … Seven. (n) (i) Office furniture and fittings … Twenty. (ii) Office equipment … Ten. (o) Apparatus let on hire- (i) other than motors … Seven. (ii) motors. … Twenty. (D) Assets purchased second-hand and assets not otherwise provided for in this table. Such reasonable period as the Government determine in each case having regard to the nature, age and condition of the asset on the vesting date.