Deferred tax
This query is : Resolved
21 May 2016
If in a company a building is given on rent. Then we have to provide depreciation as per companies act in books of accounts while preparing balance sheet. However, depreciation under income tax will be disallowed. For calculating deferred tax, do we have to take into account depreciation on building under income tax act for calculation purpose only or not.
21 May 2016
Need not take IT depreciation of rented building in deferred tax calculation because the difference is 'permanent' in nature.
24 May 2016
deffered tax assets/liability not arise due to its come under permanent diff.not reverse in future.
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