How to deal with income tax in the tax law for asset inventory

The treatment of income tax in the tax law is as follows:

1.Expenses for the renovation of fixed assets for which depreciation has been fully withdrawn;

2.Expenses for alterations of leased fixed assets;

3.expenditure on major repairs of fixed assets;

4.Other expenses that should be treated as long-term amortized expenses.

Expenditure on major repairs of fixed assets refers to expenditures that meet the following conditions at the same time:

1) The repair expenditure reaches more than 50% of the tax base at the time of acquisition of fixed assets;

2) The service life of fixed assets will be extended by more than 2 years after repair.

The liquidation of fixed assets refers to the scrapping and liquidation of fixed assets, as well as the liquidation of fixed assets that have been damaged and lost due to various force majeure natural disasters.

The disposal of fixed assets belongs to the asset class account, which is a transitional account, and before the completion of all the liquidation work, the income and losses incurred due to the liquidation, the income lender and the loss borrower are recorded. Finally, the total credit is used to subtract the total debit, which is positive for profit and negative for loss.

Income tax treatment at the time of disposal of fixed assets:

2. Accounting processing:

1) Liquidation and transfer of fixed assets.

Borrow: Disposal of fixed assets.

Borrow: Accumulated depreciation.

Credit: Fixed Assets.

2) Recognition of recoverable income from disposal of fixed assets based on the appraised value.

Debit: Other receivables - income from disposal of fixed assets.

Credit: Disposal of fixed assets.

3) Carry forward the net profit or loss.

Borrow: Non-operating expenses.

Credit: Disposal of fixed assets.

Or: Borrow: Disposal of fixed assets.

Credit: Non-operating income.

Asset inventory. Generally, there are three categories: cash in hand, physical (fixed assets inventory, inventory inventory), and accounts receivable and payable.

The corporate income tax clearance is done by the tax authorities, but if you ask a tax accountant firm to issue a tax audit report, the clearance process will take less time. If the tax audit report is not issued, it may take a year and a half to delay. It is recommended that you entrust an accounting firm to handle the deregistration process.

The whole cancellation procedure is still quite cumbersome!

The company meets one of the following conditions: 1. The company is declared bankrupt in accordance with the law; 2. The expiration of the business period or other reasons for dissolution stipulated in the articles of association of the company; 3. The company is dissolved due to merger and division; 4. The company is ordered to close down in accordance with the law and can apply for cancellation.

To apply for cancellation of registration, the company shall submit the following documents to the registration authority:

1. Application for cancellation of registration signed by the person in charge of the company's liquidation organization;

2. Application for cancellation of company registration signed by the legal representative of the company;

3. The bankruptcy ruling of the court, the document ordered by the administrative authority to close down or the resolution or decision made by the company in accordance with the Company Law;

4. Liquidation report confirmed by the shareholders' meeting or relevant authorities;

5. Tax payment certificate issued by the tax department;

6. Account cancellation certificate issued by the bank;

7. The original and copy of the Business License of Enterprise Legal Person;

8. Other documents that shall be submitted according to laws and administrative regulations.

The enterprise income tax inventory is actually the audit report made by the accounting business.