India Block of Assets with different rates as per Income Tax Act.

 Hi,

I read one of the forum on India Block of Assets, regarding we are having multiple rate for single India Block of Assets. As per Income Tax requirement there is different rates for first year and different rate from next year.

 

For Example

Plant & Machinery having 1st Year Rate @ 35 %

Plant & Machinery from 2nd year onward @ 15 %

One Block of Assets we can assign Single Depr. Rate only if we try to assign different rate to same block we get message that Duplicate Record.

 

Pls let me know if there ia any functionality available in Oracle Financials - India Localization to resolve this issue.