deffered tax liability
This query is : Resolved
08 February 2009
how can we calculate deffered tax liability
for company?
for company?
CA. B.SRINIVASULU
(Expert)
08 February 2009
Deffered Tax liability is originating from timing differece.
You have to calculate as per accounting standrad 22 of icai.
In simple you would have debited certian items in your profit and loss account but for income tax the treatment will be different.
For eg. Income tax depreciation and companies act depreciation.
Eg :
Depreciation calcuated as per it 818035
Depreciation calculated as per coy 40234
Originating time Difference
Differnce between two 415461
Rate of Tax 30.90%
Deferrred Tax liability - 128433.
You have to calculate as per accounting standrad 22 of icai.
In simple you would have debited certian items in your profit and loss account but for income tax the treatment will be different.
For eg. Income tax depreciation and companies act depreciation.
Eg :
Depreciation calcuated as per it 818035
Depreciation calculated as per coy 40234
Originating time Difference
Differnce between two 415461
Rate of Tax 30.90%
Deferrred Tax liability - 128433.
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
- Visiting card purchase
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- Equity Share Sale and Purchase
- Wrong CMPo8 file
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Whether output tax is taken credit by purchaser
- Number of years as per AS amortisation of Goodwill
- Additional trade name
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
