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Feb 04, 2014 at 06:03 PM

What is the use of depreciation Key when we are using Block key Concept for IT Depreciation


HI Experts,

I am Pretty confused with income tax depreciation concept.what is the use of depreciation key when we are using block key concept. how ever Depreciation will calculate on WDV. we will update WDV according to blockeys and even we will maintain Depreciation percentage according to block keys same blockeys we will update in asset master according to that depreciation will be calculated if we are going to acquire new assets same it will be updated to block keys and we will update transactions and WDV as usual.but here Depreciation key no where plays any role then why do we want assign depreciation key to income tax depreciation area.what is the use of it and if it is mandatory to assign depreciation key then can't we assign dummy depreciation key.many of them are confused with this concept can any take in cation and explain the same.

Thanks in advance