I have encountered a situation for which i require solution in respect of Deferred Tax.

For eg facts of the case are as follows :

Suppose the data given below is for FY 12-13 :

Particulars- Accounts
Loss Rs.(250,000)
Less: Depreciation as per Companies Act Rs. 170,000

Net Loss Rs.(420,000)


Particulars- I T
Loss Rs.(420,000)
Less: Depreciation as per I. Tax Act Rs. 90,000
Less: Preliminary Exp U/s 35D of I. Tax Act Rs. 10,000
Add: Depreciation as per Companies Act Rs. 170,000
Net Loss Rs.(350,000)

For the situation given above,

1)Do we have to calculate deferred tax on only UNABSORBED BUSINESS LOSS,

or

2)Deferred Tax is calculated on all the following items :
a)Depreciation
b)Preliminary Exp U/s 35D
c)Unabsorbed Business Loss

Which of th above option should be considered for deferred tax calculation

Yours early reply will be highly appreciated.

Urgent please

Dear Sirs

Please give me answer to the following queries

We are transferring company vehicles to sub contractor for amount due to him.

Can we mention this fact in sale deed?

What is the journal entry for this transaction?

TDS IS TO BE DEPOSITD TILL THE 7th DAY OF THE NEXT MONTH.IN CASE IF 7th DAY IS SUNDAY WHAT WILL BE THE DUE DATE?

As per act late fees for filing tds returns to be paid before filing return. What is the consequences if returns are filed before paying late fees

hello Experts,
For the FY 2011-12 I joined a start up company which promised to pay 7.5 lks pa.Due to insufficient funds they could pay only 3.5 lks.So I did not file ITR as i was not exceeding 5 lakh tax limit.I left joined another company in 2012-2013.And my old company paid 70000 Rs outstanding salary.
Now my query is how do i deal with this? do i have to make any adjustments while filing this years ITR?
Thanks and Regards,
Sushma

i ve bought acc,law and audit books in january 2013(upto date amendmends).now i m giving exam in 2014 may.is these books enogh for all details and updates till may 2014 in acc,law nad audit books...or i ve to buy new one.plz advice me...i need urgent

I have my articleship registration date on 5 August 2012. But i m not getting any gmcs1 date till the sept. of this yr(which is after 1 yr. of the date of my articleship). Now what should i do? What will be the consequences if i join the september batch?

amendments in Rule 12 of the Income-tax Act would now mean that if an individual is having exempted income in excess of Rs. 5,000, in that situation such individual will not be able to file the Income-tax Return SAHAJ (ITR 1). For example let us say a salaried employee has got income from salary income and some bank interest income. But if he has got dividend income of Rs. 10,000, in that situation he will not be able to file the Income-tax Return in Form SAHAJ (ITR1) because the new amendment specifically mentions that the Return Form SAHAJ cannot be used by an individual having income not chargeable to tax exceeding Rs. 5,000. Such persons have to file the Return in Form No. 2. Similarly an individual or a Hindu Undivided Family carrying on business having turnover less than Rs. 1 crore and normally required to file the Return in Form SUGAM (ITR4S) will not be able to file the Return in the said SUGAM Form for the AY 2013-14 if he were to have exempted income say like dividend,..............IS IT TRUE INTERPRETATION?

Dear Sir,

For filing Income Tax Return, i downloaded ITR-1 from the website incometaxindiaefiling.gov.in, however on opening the excel sheet it gives an error" Compile error in hidden module:Module 3" thus preventing data validation.

Want to know, whether there is any other way /any other site from which ITR1/ITR2 returns can be downloaded which is error free.

Thanks
Viswanathan R

Dear Experts,

Could you please help me for the following Quarries regards NSC:

1.How to calculate accrued interest on NSC VIII issue, Issued on or after 1.4.2012?
2. If NSC is issued on Middle of the particular month, Do we need to calculate for days Wise?


Regards,
Bhargavi.T