Deffered Tax & calculation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 April 2010
Net profit as per P\L is 100000, I have paid cash 15000/-as penalty, and as per company act depreciation is 10000 and as per IT 15000, then if I am correct – I have to pay the tax on 120000(100000+15000+(15000-10000))
Is the 20000 will be treated as deferred tax liability & hhow much I have to pay tax
Is the 20000 will be treated as deferred tax liability & hhow much I have to pay tax
CA Sanat Pyne
(Expert)
22 April 2010
you have to pay tax on (100000+15000+10000-15000)=110000.
Your deffered tax assets is tax rate X (15000-10000).
Refer AS 22
Your deffered tax assets is tax rate X (15000-10000).
Refer AS 22
23 April 2010
AGREE WITH EXPERT. WELL REPLIED.
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