deferred Tax Asset/ Liability

This query is : Resolved

Srikanta Adhikary (Querist)
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30 December 2008 Dear Sir,

Kindly advice on the Computation of the Deferred Tax for the following case:

Particulars

Amount (Rs.)

Profit as per Profit & Loss Account
790.00

Add: Depreciation under Companies Act
25,069.00

Less: Depreciation under Income Tax Act
59,904.00

Taxable Income
(-) 34,045.00

M A T under Section 115 J B

Profit as per Profit & Loss Account
790.00

Adjustments
NIL

Book Profit
790.00

M A T @ 10.30%
81.00

What would be the Deferred Tax for the year?

Thanking you.

Yours truly,

Srikanta Adhikary

Deepak Agrawal

Deepak Agrawal (Expert)
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22 January 2009 MAT is below the line item i.e. profit...

So it will not be affected for DTA / DTL...

DTL will be recognised for 33.99%(59904-25069)

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