deferred Tax Asset/ Liability
This query is : Resolved
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
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
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)
So it will not be affected for DTA / DTL...
DTL will be recognised for 33.99%(59904-25069)
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