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Accounting Standard 22

This query is : Resolved 
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(Querist)
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
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
11 July 2008 Yes, ur method of calculation is correct. However, the tax rate should be 33.99%
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Sambu Suresh

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Sambu Suresh (Expert)
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
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Pratik

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Pratik (Querist)
11 July 2008 thank you for your kind reply
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