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This query is : Resolved

Aarthi.P (Querist)

24 March 2016 Dear Sir/Madam.,
I have the following query
1. In FY 14-15.,Amalgamation expenses (Ad publication exps , ROC filing fee, Advocate fee etc) has been incurred, 1/5th has been deducted as per Sec 35DD of IT Act ., balance has been shown under Other Current assets on 31.3.15 Financial Statements ., is the treatment correct as per Sch III of Cos Act 2013 and AS-26. For FY 2015-16., what rectification needs to be done , if any

Aarthi.P

Aarthi.P (Querist)

24 March 2016 One more query., For 31.3.13 there is a Deferred tax liability of around Rs 100000., On 31.3.15., due to differences in WDV of Fixed Assets as per books and for Income tax purpose., there is a Deferred tax asset of around Rs 60000( as per Balance Sheet method). Only previous year deferred tax liability has been reversed. No deferred tax asset is created. In the balance sheet on 31.3.15, there is no DTA or DTL., Is the treatment correct., What is the basis of recognising DTA as per AS-22

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