on 08-31-2014 9:53 AM
Dear Experts,
i have one dought in depreciation..
since we are going to use the Block wise depreciation what is the use of income tax depreciation key,
Please can anyone explain
Rgds,
Naru
Hi Naru,
You will need dep key for Income tax purpose, because the Period control is different in case of Income tax dep and even for block of assets, you will need to charge depreciation.
However, SAP has introduced new solution for India- Income tax depreciation with EHP5 (Refer SAP note 738919) and SAP's recommendation is not to use Group Asset solution for Income tax anymore.
Regards,
Kavita
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Hi Naru
If you go with the new solution of EhP5, I think you dont need to have multiple dep areas in asset master. That means you dont need to have IT Dep Keys in asset master
SAP has published a document on the new solution.. I think I have it in my personal laptop.. Can share it by EOD
Br, Ajay M
Hi Naru,
Please check this link if you want Group Asset configuration for Income tax depreciation Area : http://scn.sap.com/thread/2107144
Kind Regards,
Prakash Kumar
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Hi Naru,
Please check this post : http://scn.sap.com/thread/3496094
In India, depreciation on assets for the purpose of computation of net income as per the Income Tax (IT) Act 1961 is calculated over a block of assets instead of individual assets as allowed under the Companies Act 1956.
In order to peform this SAP has provided us with asset block feature. See this : Assign Asset to Asset Block (J_1I_UPDBLKTOAST) - Depreciation - SAP Library
Kindly give reward points if it helps to resolve this query.
Thanks and Regards,
Prakash Kumar
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