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Deffered tax

This query is : Resolved 
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(Querist)
08 September 2012 Dear All,

I am confused about DTL. The fact is as under:

Last Year DTL : 1,48,781/-
Current Year Depcn. (As per Books) : 18,23,784/-

Depcn. as per I.tax Act : 16,03,556/-

What amount will be as DTL in B/sheet( 68,051/- or ??)?

What amount will be debited or Credited in P/L. Account as DTL/DTA?

Please advise with calculation?

Regards,

Dulal
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CA Ilayaraja

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CA Ilayaraja (Expert)
08 September 2012 Timing diff (1823784-1603556)=220228
Deferred tax asset 30% = 66068
Last year DTL = 148781
net dtl = 82713 to be shown in non current liabilities
currnt year dta of 66068 should be credited to profit and loss account.
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Dulal Chatterjee

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Dulal Chatterjee (Querist)
08 September 2012 Dear All,

With ref. Mr. Ilayaraja, CA's reply, he has not considered cess @ 3%. I think it will be @ 30.9%.

According to his calculation it will be:
Net DTL = 80730 to be shown in Non Current Liab.
Current Yr. DTA of Rs. 68051 should be credited to P/L. Account.

please provide the required journal entries regarding the matter as soon as possible.

Regards,

Dulal
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