Deferred tax asset recognition
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 June 2013
DEAR MEMBERS I HAVE A QUERY RELEVANT TO DEFERRED TAX ASSET CREATION.FOR CLOSING BOOKS OF ACCOUNTS FOR THE F.Y 2011-12, I HAVE PASSED AN ENTRY FOR DEFERRED TAX CONSIDERING THE SEC.43B DISALLOWANCES. HOWEVER, THE 43B DISALLOWANCES CONSIDERED FOR INCOME TAX RETURN VARIES WITH SEC.43B DISALLOWANCES CONSIDERED FOR INCOME TAX PROVISION CALCULATION AT TH YEAR END. HENCE, IS IT NECESSARY TO ADJUST THE DIFFERENCE TO THE EXTENT VARIED WITH THE TWO SITUATIONS ? IF YES, HOW IT SHOULD BE DONE.
23 June 2013
Books are closed. you cannot adjust in back dated. so what ever difference you can correct the current year only
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