Hi,
Presently we are having 2 depreciation areas --one for management (which will impact FI) and another for Tax(only for information).
For tax reporting, the requirement is that no depreciation should be charged for asset in the year of disposal.
For example I have acquired one asset in year 2008 for 10000 usd .The rate of depreciation is 10% straight line, hence depreciation wud be 1000usd for year 2008.
Now in year 2009, asset is disposed..then for tax purposes, no depreciation should be charged in year 2009.
Is it possible to meet this requirement...Pls adv.
Thanks,