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Former Member
Nov 19, 2008 at 12:14 PM

Income Tax Dep. In asset accounting

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Hi All,

Can any one help how to solve this. At least i want to whether it is possible or not. Please help me on this.

We are using group asset for calculationg Income-tax depreciation.As

per Indian income-tax act if the asset used more than 180 days we can

avail 100 % other assets we can avail 50% dep. only.

For example Group assets for 10% Block.In this block of asset we have

assigned two main asset. One asset has purchased on 01.04.2008 and one

more asset on 11.11.2008.

For the first asset system is calculating Full Dep. When i Post the 2nd

asset system suppose to calculate half of the Depreciation. But in this

case system calculating full dep. for the assets as per income tax

dep.area.

Please suggest me how to solve this issue.It would be very help ful if i am getting any answer.

Thanks

Sriram.