Depreciation Books in Business Central
💁Agenda of the Video▶️: To talk about the Depreciation Books Cards in Business Central.
The detailed overview of these two Depreciation Books (as Card) -
(1) Company Book✅
(2) Income Tax✅
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💁How many Days is Depreciation Allowed in Income Tax Act?
or, 180 Days Rule for Fixed Assets under Depreciation?
➡️ If Fixed Asset is Put to Use for Less than 180 Days then Amount Equal to 50% of the Amount Calculated using Normal Depreciating Rates is Allowed as Depreciation, i.e Asset Put to Use On or Before 3rd oct of the year (4th oct in case of Leap Year) then 100% Depreciation is allowed, otherwise 50%.
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➡️Note:- Asset Indexation is a process of Adjusting the Purchase Price (Acquisition Cost) of an Asset based on inflation.
⬜ Indexation helps to reduce the tax liability on capital gains by lowering the amount of gain that is taxable.
Indexation also helps to encounter the erosion (reduction) of value in the price of an asset and bring it at par with the prevailing market price.
Indexation can be applied to various types of investments, such as bonds, debentures, or asset classes.
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