Deferred tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 September 2011
our company has deferred tax rs. 135568.75 as per balance sheet 31.03.2009 and on 31.03.2009 Block Assets was nil due to sale of assets.
so what is the effect of deferred tax assets?
Whether deferred tax will be nil of keep it same position.
Please advice us
Thanking you
Rajat Sinha
Accountant
Annar Pharmaceuticals Private Limited
so what is the effect of deferred tax assets?
Whether deferred tax will be nil of keep it same position.
Please advice us
Thanking you
Rajat Sinha
Accountant
Annar Pharmaceuticals Private Limited
26 September 2011
Difference between the WDV as per Books of accounts and WDV as per IT rules will always give rise to Timing differences, provided at least one asset is existent in the block(Value may be nil in IT rules)
The effective tax rate applied on the difference will be the DTL
Eg
WDV as per Books 2 lakhs
WDV as per IT rules 0
DTL would be 30.9% on 2 lakhs i.e 61800/-
The effective tax rate applied on the difference will be the DTL
Eg
WDV as per Books 2 lakhs
WDV as per IT rules 0
DTL would be 30.9% on 2 lakhs i.e 61800/-
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Putting a heading on received mail
- Section 50-fixed asset-->building ceases to exist
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Tds on commission charges
- TDS on TRUST
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
