banner_ad

35ad with as22

This query is : Resolved 
Profile Image

Profile Image

(Querist)
18 October 2016 our company has a profit as per books of a/c is rs . 50lakh. but in income tax there is loss of rs 1100 lakhs due to deduction u/s 35AD. I have a quary whether this will be create deferred tax assets or deferred tax liability. please substance your answer in details.
Profile Image

CA Amrita Chattopadhyay

Profile Image

CA Amrita Chattopadhyay (Expert)
19 October 2016 Since you are not liable to pay tax now due to certain provisions in the Income Tax, it has not resulted in the expense now but in the future it would be allowed as expense in the books. Thus, in such case since you are claiming it as expense now, it would be considered as deferred tax liability.
Profile Image

ARJUN SINGH DANGI THAKUR

Profile Image

ARJUN SINGH DANGI THAKUR (Querist)
19 October 2016 Amrita Mam, but due to 35AD there is a carry forward of loss in return and as per AS 22 due to carry forward of losses deferred tax liability created.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details