Deferred tax liabliity
This query is : Resolved
03 June 2009
a company has brought forward losses Rs. 675156/- ( dept loss Rs. 128970/- and business loss rs. 546186/-)as on assesment year 2008-09. further during the assessment year 1009-2010, the said company has earned Rs. 1235667/- profit before writing off the above losses. All the losses are set off during the assessment year 2009-10. How the above figures would be reflected in computing DTA/L. There are no further adjustment except above.
03 June 2009
You need to provide for DTL in the books for both brought forward losses Rs. 675156/- ( dept loss Rs. 128970/- and business loss rs. 546186/-). As the same is adjustable in next year. In the next year do check for provision assesesment.
Total amount of DTL will be 30.09% of Rs. 675156/- i.e Rs. 208623.00
Total amount of DTL will be 30.09% of Rs. 675156/- i.e Rs. 208623.00
04 June 2009
Here DTA arises but not DTL. So DTA has to be created in 2008-09 and reverse it in 2009-10.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Off Market debit and credit transaction
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Share accounting-->fifo - capital gain - period as per fifo?
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR validation error - Balance sheet is not filled
- Registration as Authorised Representative of minor
- Article ship defecit
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
