Free tool
Check a depreciation useful life, right now.
Pick an asset category and type in the useful life actually being used. See how it compares to the Schedule II, Part C indicative useful life under the Companies Act, 2013 — and whether a departure needs disclosure.
What this does and doesn't do
- Nothing you type leaves your browser — there's no file, no upload, no server call.
- It compares one asset against one indicative figure from a static lookup table. It can't tell you whether a technical justification for a different life actually exists, or whether component accounting changes the picture for a specific asset.
How to use this
Pick the closest asset category
Schedule II groups by category, not by specific asset — choose the one that genuinely matches.
Type in the useful life actually being used
Pull this from the fixed asset register or depreciation schedule, not from memory.
Read the comparison, not a verdict
Below, above or matching the Schedule II figure — a departure is allowed, but it needs its own disclosed justification.
Pull the justification, if any, and test it
The comparison only tells you whether to look; whether the justification actually holds up is a separate audit step.
This free tool, and where it stops
This free tool checks
- Whether a useful life in use is below, above or matching the Schedule II indicative figure
- A reminder that a departure needs technical justification disclosed in the financial statements
A full engagement in Lekhya also checks
- Depreciation recomputed against the full fixed asset register, not one asset at a time
- Component accounting and residual value assumptions tested against actual asset condition
- Prior-year useful-life positions carried forward and flagged if they changed
- A reviewer-ready working paper, not a one-off comparison
One run, one file, four or five rules — versus every procedure a real engagement needs, run continuously against the full population, with every exception linked to its source document.