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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- EXPORT COMMERCIAL INVOICE HSN CODE
- LIC maturity claim whether taxable
- Journal entry of busniess expenses
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- 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
- NRI ITR2 account in 2025-26.
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
