Deferred tax asset
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 July 2012
dear all,
i am working on the def tax of a pvt limited company. opening def tax liability is 2.00 lacs.during the year there is an asset. Both the liability and asset arose due to timing difference on account of dep. As on 31.03.2012 there is an asset of Rs.0.50 lacs.i want to know if i can recognise the asset or not.
i am working on the def tax of a pvt limited company. opening def tax liability is 2.00 lacs.during the year there is an asset. Both the liability and asset arose due to timing difference on account of dep. As on 31.03.2012 there is an asset of Rs.0.50 lacs.i want to know if i can recognise the asset or not.
30 July 2012
Dear
You shoud book a defferred tax laibility for amount of Rs. 1.5 Lacs.
Ok, it has to be net off.
You shoud book a defferred tax laibility for amount of Rs. 1.5 Lacs.
Ok, it has to be net off.
30 July 2012
Sir,
AS 22 requires us that DTA can be recogonized if there is reasonable certanity that such asset can be utilized against tax liability of future income.
for DTA arising on account of unabsorbed depreciation or carry forwarded loss , virtual certainity is required.
AS 22 requires us that DTA can be recogonized if there is reasonable certanity that such asset can be utilized against tax liability of future income.
for DTA arising on account of unabsorbed depreciation or carry forwarded loss , virtual certainity is required.
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
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- Rental income of jointly held property
- Accounting with Claude
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
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
