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- Normal working lifeCodal life is a term used in accounting and refers to the normal working life under the asset depreciation rules of IR12. It is an average economic life assumed for the specific purpose of making long term planning for replacements2. The codal life of diesel locomotives is 36 years, while electric locomotives have a codal life of 40 years1.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.
The designated codal life is the normal working life under the asset depreciation rules of IR. The codal life of diesel locomotives is 36 years, while electric locomotives have a codal life of 40 (?) years.
www.irfca.org/faq/faq-ops3.htmlCodal life: · Subject to modification from time to time as amended in Accounts Code. · It is merely an average economic life, assumed for the specific purpose of making long term planning for replacements.
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