Defered tax assets/deferred tax liability
This query is : Resolved
10 May 2013
sir i am working in a chartered accountants firm as a paid staff.I am very much confused about passing the entry of deferred tax asset/liability in the books. please guide me how the entry will be passed
10 May 2013
For DTA --
Dr. DTA
Cr. P&L
For DTL --
Dr. P&L
Cr. DTL
Dr. DTA
Cr. P&L
For DTL --
Dr. P&L
Cr. DTL
10 May 2013
sir suppose after making provision of income tax in profit and loss account, profits are in-sufficient to pass the entry of D.T.L then how the entry will be passed ?
10 May 2013
DTL is not an appropriation against profits. It is an expense and same has to be provided irrespective of availability of profits.
11 May 2013
SIR THEN PROFIT AS PER PROFIT AND LOSS ACCOUNT WILL BE IN NEGATIVE AFTER PASSING THE ENTRY OF DTL
11 May 2013
Yes. What is the problem in that.
13 May 2013
thank you sir for your guidance
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
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- TDS AND ITR ISSUE
- RATE AND HSN CODE
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- 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
