Deferred tax creation
This query is : Resolved
Hardik Lakhani
(Querist)
14 December 2011
Dear Expert,
For FY 10-11, do we create DTA taking a surcharge of 7.5% or 5%.
I believe it shall incorporate known changes in tax rates, even though it may not be for the current assessment year. (with reference to para 22 of AS-22 which states that certain announcement of tax rates and tax laws may have substantive effect of actual enactment.....measured using such announce tax rates and tax laws)
Kindly advise if my opinion and/or basis is right
Thank You.
For FY 10-11, do we create DTA taking a surcharge of 7.5% or 5%.
I believe it shall incorporate known changes in tax rates, even though it may not be for the current assessment year. (with reference to para 22 of AS-22 which states that certain announcement of tax rates and tax laws may have substantive effect of actual enactment.....measured using such announce tax rates and tax laws)
Kindly advise if my opinion and/or basis is right
Thank You.
14 December 2011
Substantially enacted rate can be adopted for DTA/DTL calculation.
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