02 September 2009
DEAR SIR, WHTHER THE DIVIDEND EXEMPT U/S 10(34)/(35) WILL BE CONSIDERED WHILE CREATING THE PROVISION OF DTA/DTL? THIS QUERY IS ARISED DUE TO THE DILAMATIC PROVISION IN AS 22.IT SAYS THAT DIFFERANCE ARISING DUE TO "TAXABLE INCOME" AND "ACCOUNTING INCOME".BUT DIVIDEND IS AT ALL NOT TAXABLE INCOME.IT IS EXEMPT AS PER ABOVE MENTIONED SECTIONS.SO PLEASE GIVE ME SATISFACTORY REPLY REGARDING DTA / DTL.
02 September 2009
It is a permanent difference Siddarth. The question of deffered tax arises for only those items which qualify as temporary difference.
CAclubindia
