Accounting Stanadard 22

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deeksha (Querist)
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07 December 2009 Dear all,
Please help me on this query:

Income before depreciation and taxes=Rs.6,000/-
Depreciation as per Companies Act=Rs.1,52,000/-
Depreciation as per Income Tax Act=Rs.5,70,000/-

What will be the treatment as per AS-22?

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
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07 December 2009 Deferred tax liability can be created upto the income available plus income certain to be earned in near future.

deeksha

deeksha (Querist)
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07 December 2009 Income as per taxation would become loss..so will DTA be created on loss and DTL created on extra depreciation allowed??

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
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10 December 2009 Yes, if income certain to be earned

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