hi experts

need to calculate depriciation by income tax rule

scenario is

date of purchase 01-04-12 price 60000

additional purchase 31-10-12 price 45000

rate of depriciation 60%

so answer should be 49500

but its giving 63000

infact its counting deprcn for full 60% for additional purchase wheras it should be 30%( bcz it is used less than 180 days)

please help how to solve this problem…



In FA > Set up > Depreciation book create one more book for “Income Tax”

There in the field “FA Book Type” select income tax. You will be getting two more fields where you will define Depreciation Threshold days which will be 180 in your case and another field is depreciation reduction which will be 50% as per income tax act,1961.

Try this and assign this depreciation book on the asset card.