Capital gains tax applies only to profits from asset sales. Long-term gains taxed at 0%, 15%, or 20% depending on income. Short-term gains taxed at higher rates than long-term gains
Depreciation is the decrease in value of an asset over time. Calculated by dividing cost by useful life, then subtracting one. IRS defines it as tax deduction for property's wear and tear
GRN records receipt of goods from suppliers in business transactions. Document includes product details like quantity, quality, and condition. Serves as proof of delivery and audit trail for disputes