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
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- If there is Long term capital gain exists how much total income to be considered
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
