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Purpose
The Financial Accounting (FI) component covers the most important laws and business practices specific to India. The following documentation describes these aspects of the component.
Features
Country-Specific Functions
Country Version India comes with a large number of additional functions for withholding taxes. The customer and vendor masters have been enhanced to store data only used in India. An extra report is also provided for depreciating assets according to the Income Tax Act.
Country Template
The country template for India comes with:
· Sample settings for calculating and posting taxes
· A chart of accounts and financial statement version
· Sample settings for asset depreciation
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