Deffered tax

Save Share

This query is : Resolved

Dulal Chatterjee (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

CA Ilayaraja

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.

Dulal Chatterjee

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now