How can we Define Corporate law sob and Income Tax law Sob?
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Setup-> Assetsystem -> Book controls
A corporate book holds all asset information, asset transfer
information, Asset Reclassification information, Asset Cost
Adjustment, Retirements, Revaluation, Changes and
Depreciation information. It is important and Primary Book.
A corporate book is maintained as per company Law.
A tax book captures all asset information as per Income tax
act. It is associated with corporate book to copy the
existing asset. We can mass copy the information as required.
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Setup-> Assetsystem -> Book controls
Asset Book Controls has a field that asks what book we are
defining depending upon the requirement we can mention as
Corporate or Tax Book.
If we are defining Tax book sepcify the Corporate book
Associated.
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Answer / ravi
Setup-> Assetsystem -> Book controls
Corporate book consist of total information about the Assets
like location , cost , Depreciation etc..
where as Tax book consist of the information abt the tax
of particular Assets in the organization
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