deffered tax liability
This query is : Resolved
19 April 2010
If my current years DTL is Rs. 26977/- and Total deffered tax liability provided in earlier years is Rs. 40432/-, Is write back of DTL required in books of accounts?
Aditya Maheshwari
(Expert)
19 April 2010
If deferred tax asset is to be created due to current years depreciation or other differences of timing difference then no need to write back deferred tax liability.
However if the total deferred tax liability as on date required is Rs. 26,977/- then write of deferred tax should be done.
However if the total deferred tax liability as on date required is Rs. 26,977/- then write of deferred tax should be done.
CA Gangadhar Mishra
(Expert)
19 April 2010
yes, the differential amt is to be written back to p l a/c below the line.
kartik_somu
(Expert)
19 April 2010
agree with experts
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