Accounting Standard 22
This query is : Resolved
11 July 2008
Dear Sir,
Depreciation as per books is Rs1.40lacs and as per Income Tax Laws is Rs1.50lacs.
On RS 10,000/- (ie 1.50-1.40) DTL is created @33.66% am i right in doing so?
Shall i create DTA in respect of the same
Method followed for Depriciation in book is WDV
Regards,
Pratik
Depreciation as per books is Rs1.40lacs and as per Income Tax Laws is Rs1.50lacs.
On RS 10,000/- (ie 1.50-1.40) DTL is created @33.66% am i right in doing so?
Shall i create DTA in respect of the same
Method followed for Depriciation in book is WDV
Regards,
Pratik
11 July 2008
Yes, ur method of calculation is correct. However, the tax rate should be 33.99%
11 July 2008
you are right. also assess the previous year DTA and DTL balances in this respect. so u have to provide only for the net of the balancex
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
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR 2 Short Term gain & Long term gain
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Reporting Income under Section 44ADA
- ITR 1: Details for showing Exempt Income
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
