24 October 2014
Dear Experts, First of all wish u a very happy diwali season... My query is regarding AS-22 I have recently joined a company...company has its manufacturing unit in uttrakhand, thus enjoying the benefit of Sec 80IB under income tax act. Therefore, profits are exempt, but company is paying tax due to MAT provision... Now since profit in books and income tax profit(due to mat) are same...does the company need to create DTL provision on timing difference of depretiation...auditor of company has made DTL provision..but i dont think company should make any provision.. Plz help Thanks in advance..
CAclubindia
