banner_ad

AS-22

This query is : Resolved 
Profile Image

Profile Image

(Querist)
26 November 2010 Dear Experts,
For a company or a tax audit firm...if already there exists Deferred Tax Asset and Deferred Tax Liability and current year also there is some expenses (eg. Dep.rate ) please explain me how to comply with AS-22 requirement.
Please answer me by giving me an example.
Thanks & Regards,
Rajesh.
Profile Image

CA. BHAVIK DILIPBHAI MEHTA

Profile Image

CA. BHAVIK DILIPBHAI MEHTA (Expert)
28 November 2010 Suppose the firm is having opening DTA of Rs. 5000/-.

Now in the current year the depreciation as per income Tax is Rs. 1000 & as per companies Act is Rs. 2000 then for the current year there will be deferred tax asset for the current year.

Hence the overall deferred tax asset comes to Rs. 7000/- . You will need to pass the accounting entry for additional 2000/- in the current year. Attach DTA calcuations with the voucher.

DTA should be shown seperately in profit & loss account & balance sheet. The same should also been shown seperately in Notes on accounts.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details