Tax depreciation - Assets

[Former Member]

Hi Gurus,

I have done the Asset acccounting configuration as per company act. & depreciation run properly. but My client also required the balance sheet as per the Income tax act ( Calculate Asset - Tax Depreciation ) ? can any body provide me the configuration steps for calculation tax depreciation?

also want to know how to see the report of Tax depreciation?

Pls help me to work out on Asset tax depreciation.

Than'x

Dhananjay R.

[Former Member]

solved

[Former Member]

Hi All,

Tax Depreciation on Assets for India, does not comply with all the requirements (business scenarios) and hence the same has been withdrawn by SAP itself.

Please go through the following note.

Note 738919 - IT Depreciation for Assets

Balaji

[Former Member]

Dear all,

my client want to sell the assets which is having nill book value as on today date. but they want to sell that assets. how is the posting entires in f-92. pl clarify this.

girija

[Former Member]

You should start a new thread with your question. It has nothing to do with the previous question.

[srinivasa_maruvada]

Hi

Create a new Dep Area for Tax and do all assignments as done in Book Dep Area such as posting rules, account assignments etc,

Cheers

Srinivas

[Former Member]

Hi Shriniwas,

Thanx for given an attention to my question. but till i have an querry?

Actually what hapeen when i define the depreciation area in IMG screen - (how depreciation area post to general ledger) where i have maintain the 15 Tax depreciation & for that maintain Post to GL - 3. is this a right way? if i am wrong then suggest me how to do it?

for tax depreciation can we create new GLs? ,

which method we mostly use to calculate the tax depreciation?

how can we get the tax depreciation report?

can we create one more Financial statement version for that?

Than'x

Dhananjay

[Former Member]

Hi,

For Tax depreciation we need not create any new GL Accounts. Only for Book Depreciation GL Accounts are relevant.

Tax depreciation is required only for reporting purpose. Each asset should be assigned to the relevant Group Asset and assign the depreciation key of that Group Asset.

These Group Assets will suffice the Tax depreciation requirement.

In the Asset explorer check the Group asset and find the Depreication value.

Thanks and regards,

Padmaja N.

[Former Member]

Hi padmaja,

I have a issue in group asset- depreciation. I have assigned different assets in group asset.

System is calculating depreciation on the asset value date of the first asset.

We have configured Depreciation area 15 for Income tax depreciation purpose. Depreciation is getting calculated correctly as per the period mentioned in the asset masters. But when we create asset master and assign the group asset number for the IT depreciation area 15, though the capitalization dates and depreciation start dates are different for each asset, system calculates the depreciation for all the assets from the capitalization date of the first asset assigned in the group asset. System is not taking the capitilisation date\depreciation start dates of the other assets.

Could you please advise what could be the problem/

Regards

Uma

[Former Member]

Hi Padmaja

I have a question on teh tax depreciation for assets.

Can we just create a new deprn are and start calculating values for each individual assets.

Do we need to create group assets, Cant we just do tax deprn with individual assets?

Our situation is that,

we dont have the deprn area 15 as of now and the new requirement is that we need to start calculating tax deprn for the existing assets.

So if I just activate area 15 and start adding values for each individual asset like useful period, deprn start date etc, will the system start calculating tax values, I mean is this a good way of doing this in SAP for tax deprn?

please let me know your advise.

Thanks in advance

Sharath