Income Tax Book Setup for India
Hi,
We are implementing Fixed asset using India Localization and client has the following requirement :
They need following 3 reporting from Oracle Fixed Assets
1. Company Law ---- Depreciation policies as per company law
2. Corporate Reporting ---- Depreciation policies as per US Corporate Policies
2. Income tax act---- Fixed Asset Schedule as per income tax act.
Do we need to setup only 2 asset books one Corporate and one tax book in Assets or do we need to thid book for Income tax purpose also ?
We are implementing Fixed asset using India Localization and client has the following requirement :
They need following 3 reporting from Oracle Fixed Assets
1. Company Law ---- Depreciation policies as per company law
2. Corporate Reporting ---- Depreciation policies as per US Corporate Policies
2. Income tax act---- Fixed Asset Schedule as per income tax act.
Do we need to setup only 2 asset books one Corporate and one tax book in Assets or do we need to thid book for Income tax purpose also ?
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