Copying the disposal entry from Company book to IT book

shaileshpujara

Dear all,

At the time of copying the disposal entry from Companies depreciation book to Income tax depreciation book, the entry gets copied but at the time of posting the copied entry from FA Journal the entry does not get posted.

Pls. give me an appropriate solution for this.

Thanks & Regards,
CA Shailesh Pujara

ssingla

The information given by your self is insufficent. Can you elaborate the error you are receiving while posting.

shaileshpujara

I will give you an elaborate e.g. to explain the problem :

FA000160 purchase on 01/04/2010 of Rs. 1,00,000/-
Company rate of depreciation 5% SLM
Income Tax rate of depreciation 15% WDV
Asset disposed on 22/04/2011 for Rs. 48,000/-

Company Books
01/04/2010 Purchase Cost Rs. 1,00,000
31/03/2011 Depreciation @ 5% Rs. 5,000
WDV as on 31/03/2011 Rs. 95,000
Depreciation upto 22/04/2011 Rs. 301
Book Value Rs. 94,699
Disposal Value Rs. 48,000
Loss on Disposal Rs. 46,699

Income Tax Books
01/04/2010 Purchase Cost Rs. 1,00,000
31/03/2011 Depreciation @ 15% Rs. 15,000
WDV as on 31/03/2011 Rs. 85,000
Disposal Value Rs. 48,000
Loss on Disposal Rs. 46,699

Normally we copy the Company depreciation book to Income Tax book by using Copy depreciation book. The acquisition cost entry gets copied and I can post the depreciation for Income tax book also. But at the time of copying the disposal entry from the Company book, after the same is posted in Company book, the following error comes as per the attachment.

Kindly let me know if anybody has proper solution for this.

Thanks in advance
CA Shailesh Pujara