12 June 2009
HELLO, CAN ANY ONE TELL ME ABOUT DEFERED TAX LIABILITY/ASSETS. WHAT IS THE AMOUNT DETERMINE OF DIFERED TAX LIABILITY/ASSETS WHEN AMOUNT OF DEPRECIATION AS PER INCOME TAX ACT RS. 450 & DEPRECIATION AS PER COMPANY ACT RS. 550
12 June 2009
For more reference refer AS - 22 on accounting for taxes on income. Deferred Tax assest will be created @ 33.99% or 30.9% as applicable on Rs. 100/- as stated by Chetan
13 June 2009
A Deferred Tax Asset of Rs 33.99 or 30.9 (With or without surcharge, as applicable) may be created on Timing Difference of Rs. 100 on account of Depreciation Difference.
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