DEFFERED TAX LIABILITIES/ASSETS
This query is : Resolved
PRADEEP PAL
(Querist)
21 November 2009
IF A COMPANY HAS SOLD ITS WHOLE FIXED ASSETS THEN WHAT WILL BE TREATMENT OF DEFFERED TAX ASSET/ LIABILITIES
CA. Rishabh Mittal
(Expert)
21 November 2009
According to me, DTA/DTL related to that Fixed Asset should be fully dealt with, in the year of sale.
CA Ravi Sisodia
(Expert)
21 November 2009
i think DTA/DTL remains in B/S.
PRADEEP PAL
(Querist)
23 November 2009
dear Ravi sir,
Please clear my doubt
why DTA/DTL should remain in B/S
Please clear my doubt
why DTA/DTL should remain in B/S
CA. Rishabh Mittal
(Expert)
26 November 2009
Related DTA / DTL should be completely cleared off from the Balance Sheet as the related asset is no longer in BLOCK OF ASSET. Please justify to contrary, if I am wrong .
CA Ravi Sisodia
(Expert)
26 November 2009
DTA IS NOT A CLASSIEFIED AS A FIXED ASSETS.
shakuntala chhangani
(Expert)
28 November 2009
DTA/ DTL is created for timing difference. w.r.t fixed assets it is for dep. differencials which originate in one period and capable of reversal in next period/s. Now, when the asset is sold out then where is the question of dep. and reversal of DTA or DTL?? it should be removed from balance sheet. Regards,
CA Shakuntala Chhangani
CA Shakuntala Chhangani
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