Hi all!

The following is the doubt I have:

DTA as on 31.03.2019: Rs. 16.85

Depreciation for FY 2019-20:
As per Accounting: Rs. 1266.61
As per Income Tax: Rs. 495.71

Going by the depreciation route, the DTA is Rs. 200.44 [(1266.61-495.71)*26%]

WDV as on 31.03.2020:
As per Accounting: Rs. 3625.68
As per Income Tax: Rs. 4461.39

Going by the WDV route, the DTA comes to Rs. 217.29 [(4461.39-3625.68)*26%]

Now, my doubt here is, Which of the below entries is correct?

DTA A/c Dr. 200.44
To P&L A/c 200.44
(Here the net effect is Closing DTA is Rs. 217.29 [200.44+16.85] - same as that arrived at by WDV route)

(or)

DTA A/c Dr 183.59
To P&L A/c 183.59
(Here the net effect is keeping Closing DTA as 200.44 and creating DTA for the difference [200.44-16.85])

I tried to read various articles and also tried to read & understand AS-22 but I could not get this.
Please guide me...

And also, it is really appreciated if you could point me to the exact source/guideline/paragraph, etc. on which your answer is based ( I ask this because I could not find the source and I want to gain knowledge, no other intention)

Thanks in advance...

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How to account for the consideration I am receiving from the Seller in the books of accounts and its GST implication and other Income-tax implication.
I shall be obliged if I am guided in this issue.

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is it logical to book TDS receivable entry at the time of closing of books?

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What should be the proper accounting head for DSC purchase? I have put is as General Expenses.

Dear sir,
Can you Plz help me how to Do accounting for Imports and Exports of Goods.
Eg. I had Imported 10,000/- Value stock and I paid all Taxes like Customs and IGST and Other.

I am Treating
Purchase Value (Paid to Debtor) - Treating as Purchas i.e.,10,000/-
Bank Charges - Treating as Indirect Expenses
Customs and other I am - Treating as Indirect Expenditure. One to the Amount extant IGST is treating as Asset since we get ITC in gst .

IS that Treatment is Correct.


And also Say Exports of goods Entry.