Deffered Tax
Querist : Anonymous
The DTA will be created of Rs.100 (200-100) and shown in the Balance sheet.
Querist : Anonymous
IN THIS CASE DEP AS PER IT ACT IS EXCESS i.e you have save tax now, you have to pay tax later in next years when dep as per IT act will be lower than Dep as per Co. Act.
Deffered tax liablity is to created in such case i.e 30% of (200-100) i.e by Rs.30
Tax payable is 30% (500-200)=90
Retained earning is Rs. 300-90-30=180
Deffered tax liability is to shown Rs.30.
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