Schedule II, Companies Act 2013 · s.33, Income-tax Act 2025 · verified 6 September 2026
The fixed asset register the whole profession keeps downloading — done properly
One register, both Acts. Schedule II useful lives are already in it, the formulas
pro-rate on days actually held and stop at residual value, and the Income-tax sheet applies the
180-day rule block by block and ends with your deferred-tax line. Free, no signup, no macros.
What you get
Six sheets, and the first one tells you how to use the other five
- README — what the workbook does, how to fill it, which cells are
yours and which are formulas, every rule it encodes with its source and the date it was
verified, and the disclaimer.
- Register — one asset per row, room for 200. You type the
description, class, block, date, cost, method and (for assets you already held) last year's
closing net block. It works out the life, the residual, days held, the shift factor, whether
the life has already run out, the charge for the year and the closing net block.
- CompaniesAct — the class-wise movement schedule a CA signs: gross
block opening, additions, disposals, closing, depreciation for the year, net block, accumulated
depreciation. Print area already set, signature block at the bottom, and a check cell that says
out loud whether it ties back to the register.
- IncomeTax — block of assets under section 33: additions split at
the 180-day line automatically, sale consideration set off, depreciation, closing WDV, a flag
when the block goes negative (section 50) or ceases — and the deferred-tax line underneath.
- Lives and Rates — the 27 Schedule II
classes with their useful lives and NESD flags, and the 13 income-tax blocks with their rates.
Copy the names straight into the register.
What this avoids. A depreciation schedule that goes negative, an asset whose useful life
ended three years ago still quietly depreciating, and the rupee-level mismatch between the books
and the tax computation that a scrutiny notice starts from. The check cell on the CompaniesAct
sheet is there so a class typo cannot silently drop an asset out of the schedule you sign.
Opens in Excel, LibreOffice Calc, Google Sheets and WPS. No macros, no add-ins,
nothing to enable.
If pasting does nothing, it is not the workbook. Microsoft's September 2026 Excel update
(KB5002914) silently breaks copy and paste in Excel 2016–2024, with no error message.
Microsoft has now shipped fixes — but they must be installed by hand, so check for Office
updates rather than waiting. On Office 2016 and LTSC 2019 paste can still fail in a workbook that
uses conditional formatting; use Paste Special there. Until you are updated, type the rows or open
the workbook in LibreOffice Calc or Google Sheets. Do not uninstall the update — it carries
security fixes.
Known issue noted 17 September 2026; fixes confirmed released 27 September
2026. Remove this note once the affected builds are no longer in common use.
A sample company is already in it. Twelve assets fill rows 8 to 19 — a factory building, a
double-shift machine line, a computer bought mid-year, a laptop whose life has expired, an asset
sold in September, a car, furniture, an electrical installation, a server, a temporary shed, a
pre-2014 asset and one row with a deliberately misspelt class so you can see the flag work. Clear
those twelve rows and it is yours. The README says exactly how.
The rules inside
| Rule | What the workbook does |
|---|
| Schedule II useful lives | 27 Part C classes with NESD flags; a per-asset override column, because Schedule II lets you use a different life if you disclose it |
| SLM and WDV | SLM = (cost − residual) ÷ life; WDV rate = 1 − (residual ÷ cost)1/life. Both pro-rated on days held, both floored at residual value |
| Extra shift | +50% for double shift, +100% for triple — and automatically not applied to a class marked NESD |
| Income-tax, s.33 of the Income-tax Act, 2025 | Written-down value on the block of
assets at the Appendix I rates. The rates are taken to be unchanged.
The Income-tax Rules, 2026 (Notification 22/2026, G.S.R. 198(E), 20 March 2026) have not been
read against them — every published commentary still cites the February 2026 draft. Check the
rate for your block before you sign. |
| 180-day rule | Additions on or before FY end minus 179 days get the full rate; later ones get half — split for you, block by block |
| Negative or ceased block | Flagged, with the section 50 short-term capital gain stated in rupees. Never a negative depreciation figure |
| Deferred tax | (Companies Act closing net block − income-tax closing WDV) × your rate, defaulted to 25.168% and editable |
Not included, deliberately: component
accounting, revaluation, impairment, CWIP, Ind AS 116, additional depreciation, MAT, and any
simulation of depreciation from the date of purchase. An asset you already held needs last year's
closing net block typed in — one figure, from the register you already have.
Prefer to do it in the browser?
Open the web version
— same rules, same formulas, and it does simulate from the date of purchase.
Where this sits
Free depreciation calculators exist, and they are good. Two of
them will compute one asset under Schedule II and under the income-tax block, with rate tables built
in. What none of them does is keep a register of two hundred assets across years,
produce the class-wise movement schedule you sign, apply a shift
factor, or give you the deferred-tax line the two schedules imply — and one
of them is still citing the 1961 Act for a year governed by section 33 of the Income-tax Act, 2025.
The workbook is free and complete — there is nothing held back and nothing to sign up for. If the
register itself is the problem — assets that were never tagged, opening balances nobody can trace,
a schedule that has not tied to the books in three years —
Karan rebuilds fixed asset registers
for companies and their auditors. Building one by hand is a week of an article's time; this is a
download.