banner_ad

Deffered tax

This query is : Resolved 
Profile Image

Profile Image

(Querist)
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.
Profile Image

Vivek Mehta (CA, DISA,CS, MBA)

Profile Image

Vivek Mehta (CA, DISA,CS, MBA) (Expert)
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.
Profile Image

Vivek Mehta (CA, DISA,CS, MBA)

Profile Image

Vivek Mehta (CA, DISA,CS, MBA) (Expert)
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


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details