Amortization, Depreciation, And Depletion: An Overview

Amortization, Depreciation, And Depletion: An Overview
The cost of business assets can be spread and expensed each year over the life of the asset. The expense amounts can be used as a tax deduction reducing the tax liability for the business.

Amortization

Amortization is the practice of spreading an intangible asset's cost over that asset's useful life. Intangible assets are not physical assets. Examples of intangible assets that are expensed through amortization can include:
Cost of issuing bonds to raise capital
Organizational costs
Franchise agreements
Copyrights
Patents and trademarks
In amortization, the same amount is expensed in each period over the asset's useful life. Assets that are expensed using the amortization method typically don't have any resale or salvage value, unlike with depreciation.
An amortization schedule is also used to calculate a series of loan payments consisting of both principal and interest in each payment, as in the case of a mortgage.
The term amortization is used in accounting and in lending with totally different definitions.

Depreciation
Depreciation is the spreading and expensing of a fixed asset over its useful life. Fixed assets are tangible assets, meaning they are physical assets that can be touched. Examples of fixed or tangible assets that are commonly depreciated include:
Buildings
Equipment
Office furniture
Vehicles
Land
Machinery
Depreciation is calculated by subtracting the asset's salvage value or resale value from its original cost. The difference is depreciated evenly over the years of the expected life of the asset. The depreciated amount expensed in each year is a tax deduction for the company until the useful life of the asset has expired.
The cost of the building is spread out over the predicted life of the building, with a portion of the cost being expensed in each accounting year.
Vehicles are typically depreciated on an accelerated basis.

Depletion
Depletion refers to the allocation of the cost of natural resources over time. An oil well for example, has a finite life before all of the oil is pumped out. The oil well's setup costs are spread out over the predicted life of the well.

Section 375 Indian Penal Code

Section 375 Indian Penal Code
Except in the case hereinafter excepted, A man commits rape if he has sexual intercourse with a woman under circumstances falling under any of the six following descriptions.
Against her will.
Without her consent.
With her consent, when her consent has been obtained by putting her or any person in whom she is interested in fear of death or of hurt.
With her consent, when the man knows that he is not her husband, and that her consent is given because she believes that he is another man to whom she is or believes herself to be lawfully married.
With her consent, when, at the time of giving such consent, by reason of unsoundness of mind or intoxication or the administration by him personally or through another of any stupefying or unwholesome substance, she is unable to understand the nature and consequences of that to which she gives consent.
With or without her consent, when she is under sixteen years of age. Explanation.—Penetration is sufficient to constitute the sexual intercourse necessary to the offence of rape.
An exception to Section 375 exemplifies the great tragedy of Indian law: "sexual intercourse by a man with his own wife, the wife not being under fifteen years of age, is not rape." Though a fifteen year old girl may be psychologically a baby. To think of it, a man can grab his wife, even when she pleads to be left alone.
Section 375 IPC And #MeToo movement.
The Me Too movement, or #MeToo movement, is a movement against sexual harassment and sexual assault. As the #MeToo tsunami gathered strength, terms such as flirtation, sexual harassment, molestation, assault, predator and womanizer were used frequently. There were some instances of women genuinely confusing flirtation with harassment. As per the 2013 amendment of Section 375 IPC, forcing a victim to perform sexual acts with your own self or someone else is also rape. All rapes are sexual assault though the converse is not true.

Murder Charges

Murder charges fall under two broad categories:

First-degree murder: The premeditated, unlawful, intentional killing of another person.

Second-degree murder: The intentional, unlawful killing of another person, but without any premeditation. 

A homicide that occurs during the commission of a dangerous crime may constitute murder, regardless of the actor's intent to commit homicide. In the United States, this is known as the felony murder rule. Murder and culpable homicide are covered under Sections 299 to 311 of the Indian Penal Code.

WHAT IS HOMICIDE?

A report issued by the United Nations Office on Drug and Crime in July 2019 documented that nearly 464,000 people around the world were killed in homicides in 2017, a number significantly in excess of the 89,000 killed in armed conflicts during the same period. Cornell University Law School defines homicide as the act of one human killing another. a homicide may result from accidental, reckless, or negligent acts even if there is no intent to cause harm. Homicide includes murder, manslaughter, justifiable homicide, killing in justified war or as a war crime, euthanasia which is assisted suicide, and capital punishment. The circumstances of the death is decisive. Homicides are treated differently in human societies. Some homicides are considered crimes, while others are justified by the legal system.

Common Law And Legalese

Common Law is the body of law derived from judicial decisions of courts and similar tribunals. Common Law arises as a precedent. A Common Law court looks to past precedential decisions of relevant courts and synthesizes the principles of those past cases as applicable to the current facts. If a similar dispute has been resolved in the past, the court is generally bound to follow the reasoning used in the prior decision, a principle known as stare decisis. Common Law, as the body of law made by judges, stands in contrast to and on equal footing with statutes which are adopted through the legislative process.

Legalese is a pejorative term associated with a traditional style of legal writing that "lay readers cannot readily comprehend." Legalese describes poor legal writing that is cluttered, wordy, indirect, and includes unnecessary technical words or phrases. Legalese is language a lawyer might use in drafting a contract or a pleading but would not use in ordinary conversation. The traditional style of legal writing has been labeled reader-unfriendly. Whatever lawyers write must be Clear, Correct, Concise, and Complete." These characteristics of good legal writing style are recognized in the United States. My publisher could not sell the book I wrote on drafting, pleading and conveyancing in the early nineties.