Deferred tax assets / liability
This query is : Resolved
Manoj Prasad
(Querist)
11 September 2013
FOR A PRIVATE LIMITED COMPANY AS ON 31.03.2013
BLOCK VALUE RS. 10,00,000/-
VALUE OF FIXED ASSETS (WDV)
AS PER BOOKS = 8,00,000/-(Deprc 2/-lac)
AS PER IT ACT =9,00,000/- (Deprc 1/-lac)
NOW Please tell me it is my Deferred tax assets or Liability
also mention the amount of tax
Thanks with regards
BLOCK VALUE RS. 10,00,000/-
VALUE OF FIXED ASSETS (WDV)
AS PER BOOKS = 8,00,000/-(Deprc 2/-lac)
AS PER IT ACT =9,00,000/- (Deprc 1/-lac)
NOW Please tell me it is my Deferred tax assets or Liability
also mention the amount of tax
Thanks with regards
CA RICHA BADALIA
(Expert)
11 September 2013
You have to create DTA as WDV as per IT is more then WDV as per books.
Amount would be 100000*30.9%
5% surcharge would be applicable if net income is > 1crore
Amount would be 100000*30.9%
5% surcharge would be applicable if net income is > 1crore
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