Accounting Stanadard 22
This query is : Resolved
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?
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?
07 December 2009
Deferred tax liability can be created upto the income available plus income certain to be earned in near future.
07 December 2009
Income as per taxation would become loss..so will DTA be created on loss and DTL created on extra depreciation allowed??
10 December 2009
Yes, if income certain to be earned
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