Ddt in financial statements of companies ipcc

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Shubham asija (Querist)
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15 April 2012 I m very confused...for preparing financial statements of companies...ddt is to be deducted or not? In books...it is shown but tution frnds say...they have been taught nothing like that.....if yes? Then at what rate? In books 10% is taken .....we have to take present rate or 10?
What is present rate? Please clarify...may exams are near...

BHARATH KOTHARI

BHARATH KOTHARI (Expert)
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15 April 2012 Hey Shubham

DDT neeed to deducted only if specifically given the question otherwise it is not required

Present DDT Rate is 15% + Surcharge + Education Cess

In Exam you can write a note saying that as DDT Rate is not provided provision for the same is not done or write assumption that it is assumed to be DDT RATE IS 10% or 15% as per required

Shubham asija

Shubham asija (Querist)
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15 April 2012 Thanx a lot....:)

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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16 April 2012 If the question is silent on DDT then after solving the problem yu have to put a note that DDT can also be applied and as the rate is not given for DDT I am estimating the same at 15% + SC you can score 3 extra marks

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