INDIAN Income tax Depreciation Configuration

[Former Member]

Hi folks,

   Past one week I have read almost all SCN threads on configuartion of assets for indian income tax but still not able to locate a solutionfor same.

Issue: Say yearly income tax depreciation : 10%

If Asset uses 180 days and greater tax rate = 10%

If asset uses less than 180 days in fiscal year depriciation rate =half of yearly rate =5%.

WDV needs to be used , we have ECC 6.0 and have not activated  FIN_LOC_CI_8  as described in  OSS notes.

[narasimhulu_konnipati · Accepted solution]

The concept is, if the asset was purchased before 180 days, then the depreciation will be calculated for full year. If it was purchased after 180 days, then it will be calculated for 180 days.

If you are not using the new functionality given by SAP from EHP 5 onwards, then you must be using the Group Assets Concept.

I recommend you to check the standard Depreciation keys provided by SAP starts with the IN1, IN2....etc.

The basic config is,

Base method should be 0026: Special: explicit percentages

Period control method should be : IN1

You can create your own multi level method for percentage as per Asset class. In multi-level method, the base value should be 24 : Net Book Value

Check the above and come back

[Former Member · Accepted solution]

below is what i have done

[former_member183078 · Accepted solution]

Hi,

please check the period controls where in you have  to maintain period control 06 from 10 period (October) to march. please check below screen shot.

Regards

Diwa

[Former Member · Accepted solution]

When i post thru ABZON I get below error

I have configured period assignment as fy is from July to June instead of apr-march

and when I create via As91

depreciation start data is coming as july - 01 instead of jan-01 as my acquistion amd posting date of of 31-jan-2014

Please advise Narasimhulu Konnipati

what is that needs to be corrected??

[Former Member · Accepted solution]

i did that because instead of Apr-march i am setting it for july to june

[Former Member · Accepted solution]

Hi ,

Do you have any suggestions for my config ?

[Former Member · Accepted solution]

diwa can u tell me what is NL used for and how to configure NL ? and where shd i put NL and it will be good if you can also let me know the implications of not using it .

[former_member183078]

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[Former Member]

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