Deffered tax
This query is : Resolved
CA. BIREN SHAH
(Querist)
26 July 2011
Hi Friends,
I want the help in the calculation of deffered tax income/expense for the financial year 2010-11. Details are as under.
WDV Aa On 31/03/2011
As per Books 97,557,474/-
As per IT 46,553,127/-
Depreciation As Per Books(FY) 50,60,533/-
Depreciation As Per IT (FY) 52,23,085/-
Opening Balance of DTL 155,55,365/-
Thanks,
I want the help in the calculation of deffered tax income/expense for the financial year 2010-11. Details are as under.
WDV Aa On 31/03/2011
As per Books 97,557,474/-
As per IT 46,553,127/-
Depreciation As Per Books(FY) 50,60,533/-
Depreciation As Per IT (FY) 52,23,085/-
Opening Balance of DTL 155,55,365/-
Thanks,
26 July 2011
Timing difference is Rs. 1,62,552/-, being the difference in depreciation.
Deferred tax liability on timing difference @ 30.90% is Rs. 50,229/-
Debit p & l account with Rs. 50,229/-
Balance sheet figure of DTL will be Rs. 1,56,05,594/-
Deferred tax liability on timing difference @ 30.90% is Rs. 50,229/-
Debit p & l account with Rs. 50,229/-
Balance sheet figure of DTL will be Rs. 1,56,05,594/-
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