GST: India - Income Tax Act Fixed Asset Schedules Calculating Wrong Closing Balance (Doc ID 2531777.1)

Last updated on MARCH 07, 2023

Applies to:

Symptoms

ACTUAL BEHAVIOR
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Closing WDV is getting Wrongly Calculated under "India - Income Tax Act Fixed Asset Schedules"

EXPECTED BEHAVIOR
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Closing WDV should be calculated correctly.

STEPS
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The issue can be reproduced at will with the following steps:
1. Perform an adjustment of opening WDV of Block of Assets for the period 'A'.
2. Run the India - Income Tax Act Fixed Asset Schedules  program - for same period.
3. Observe that Depreciation and closing WDV calculated correctly.
4. Created a new asset and add it to the same Block.
5. Again run the India - Income Tax Act Fixed Asset Schedules  program - for same period.
6. Notice that system is calculating incorrect closing WDV.

Changes

Cause

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