Componentization
Depreciating significant parts of an asset separately when they have different useful lives — required under Schedule II of the Companies Act for assets with materially different component lives.
Related terms
- Common Control Entities
Entities ultimately controlled by the same person or group, even where no direct shareholding link exists between them — a frequent source of undisclosed related-party relationships.
- Compensating Control
A control that reduces the risk of an existing control weakness to an acceptable level, without eliminating the weakness itself.
- Composite Supply
A supply of two or more goods or services naturally bundled and supplied together in the ordinary course of business, taxed at the rate applicable to the principal supply.
- Composition Scheme
A simplified GST scheme for small taxpayers below a specified turnover threshold, paying tax at a fixed, lower rate on turnover and generally unable to claim input tax credit.
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