Deferred Tax on Revalued Assets

H RAO Tallapragada (Employee) (42 Points)

08 April 2010  

The query is :

- The assets have been revalued this year.

- The revaluation effect is not considered as per IT Act.

- That implies that the tax effect on revalued portion is a permanent difference.

- How is the Deferred tax amount to be calculated as per AS - 22.???