Deffered tax
This query is : Resolved
19 September 2011
we have a deferred tax asset of Rs 19000 in the balance sheet. what should be its treatment. should it be carry forward to subsequent year to be setoff from deferred tax liability or its adjustment from income tax is possible. what if we are planning to dissolve the company.
19 September 2011
The entry of Deferred Tax is a notional entry. Yes the amount of tax gets set off from the deferred tax liablity that is being created. this is just a virtual entry which has no impact on the tax treatment that is required to be done as per the IT Act, 1961.
19 September 2011
If the concern is planning to dissolve and wind out than it has nothing to with the things...its effect is seen only in the accounts...nothing is there in the hard cash form..
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
- Reporting Income under Section 44ADA
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR selection for salaries and capital gain less than L
- ITR returnFY25-26
- ITR validation error - Balance sheet is not filled
- 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
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
