Deferred tax assets / liability

This query is : Resolved

Manoj Prasad (Querist)
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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

CA RICHA BADALIA

CA RICHA BADALIA (Expert)
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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