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115JB...Urgent Sir!!!

This query is : Resolved 
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(Querist)
02 September 2010 Dear Experts,
While calculating book profit for the purpose of 115JB if Deferred Tax is credited to P&L account should we have to deduct it while calculating Book Profit for the purpose of 115JB.
With regards,
Rajesh.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
02 September 2010 Necessarily deferrred tax asset credited in profit and loss account has to be deducted. This provision is inserted by the Finance Act,2008 w.e.f asst.year 2001-02 and onwards.
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