A/cing Standard-22
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 February 2011
Hi,
The Following are the deatils of X Ltd
A/cting Profit 500000
Book Profit as per MAT 450000
Profit as per Income-tax Act 50000
Tax rate 30%
MAT Rate 7.50%
Queries
1)What is the total expenses to debited in P&L account
2)What is the deferred tax amount to be carry forward and what are the condition for carrying forward,when a company paying Tax under 115JB?
3)Can a company can setoff regular tax income against MAT credit which is carry forward according to AS-22?
The Following are the deatils of X Ltd
A/cting Profit 500000
Book Profit as per MAT 450000
Profit as per Income-tax Act 50000
Tax rate 30%
MAT Rate 7.50%
Queries
1)What is the total expenses to debited in P&L account
2)What is the deferred tax amount to be carry forward and what are the condition for carrying forward,when a company paying Tax under 115JB?
3)Can a company can setoff regular tax income against MAT credit which is carry forward according to AS-22?
16 February 2011
1.total tax exp. debited to p & l A/c =500000*7.5=37500
2.deferred tax amount= deffered tax liability =50000*7.5=3750
2.deferred tax amount= deffered tax liability =50000*7.5=3750
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Gift Received from nonblood relative
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- Section 50-fixed asset-->building ceases to exist
- Putting a heading on received mail
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
