Asset Lifecycle Management - PSFT (MOSC)

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How to depreciate an asset having acquired date < 180 for TAX books of India

edited Aug 14, 2018 5:06AM in Asset Lifecycle Management - PSFT (MOSC) 2 commentsAnswered

Hi All,

My Company requirement is to depreciate asset 50% in financial year for Tax books of India,if asset acquired date is less than 180.

we have two books COMP & TAX.

It is a requirement of India TAX books.

If as per declined balance method defined in TAX books, 30% depreciation rate has been setup and asset acquired in October than rate of depreciation should be 15% .

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