Balance sheet approach of calculating deferred tax asset/ lb
This query is : Resolved
08 September 2016
Can somebody give an easy example of balance sheet approach of calculating deferred tax asset/ liability ?
For example,
WDV as per BOOKS : 1085291.09
WDV as per Income Tax Act : 655305
which amount will appear where in balance sheet? why is there difference when we calculate Deferred tax asset/liability by comparing depreciation as per books and depreciation as per Income Tax Act?
For example,
WDV as per BOOKS : 1085291.09
WDV as per Income Tax Act : 655305
which amount will appear where in balance sheet? why is there difference when we calculate Deferred tax asset/liability by comparing depreciation as per books and depreciation as per Income Tax Act?
08 September 2016
You need to read and understand AS-22 for the concept of deferred tax. In the given example, you need to apply the current corporate tax rate on the difference of the two figures. The resultant amount will be Deferred Tax Liability.
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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- GST Rate for Catering Services
- FCRA 6 E- Intimation
- Journal entry of busniess expenses
- LIC maturity claim whether taxable
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
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
