Depreciation calculations

hardik_shah

Dear All,

Need Help

how to calculate Depreciation as per company Act and Income Tax Act.

Where i have to feed % for the same ? ? ? ?

ssingla

I am sure it will lead to another question but I will still answer.
Company Law : FA Depreciation Book Subform. As the form name suggest, it is a subform on the Form "Fixed Asset".
Income Tax : FA Blocks. Microsoft India forget to attach this form in setup folder, so either you manually add or lookup from field "FA Block Code" from Fixed Asset card.

hardik_shah

Sir Thanks for your swift reply..

I think i got what you mean to say BUT i m not sure....

you mean to say is for Income tax Depreciation It will use % from Block code and
for Company Depreciation it will use % from FA Subform.

ssingla

Correct.

There was a feature instruction manual released in Version 4.0 SP3 hotfixes. Try to get that.

lavanyaballurgi

So is it illegal to use FA Block's "Depreciation %" for Company Depr book?
my client want "straight-Line %" to be directly copy from FA Block table's "Depreciation %" as soon as FA Block is chosen in FIXED ASSET card.