deffered tax rate
This query is : Resolved
14 October 2007
THE RATE OF INCOME TAX IS THE SAME RATE AS APPLICABLE TO THE COMPANY.
WHAT IS TO BE ARRIVED AT IS THE NATURE OF THE ITEM OF DEFERRED TAX LIABLITY AS PER AS 22 AND SUB SEC.(3A) OF SEC 211 OF COMPANIES ACT.
R.V.RAO
WHAT IS TO BE ARRIVED AT IS THE NATURE OF THE ITEM OF DEFERRED TAX LIABLITY AS PER AS 22 AND SUB SEC.(3A) OF SEC 211 OF COMPANIES ACT.
R.V.RAO
Ravikumar.G
(Expert)
14 October 2007
Future Rate of Income Tax.
30%
SC - 10% (If turnover exceeds 1C) otherwise nil
EC-2%
SHEC-1%
30%
SC - 10% (If turnover exceeds 1C) otherwise nil
EC-2%
SHEC-1%
CA. Rayan Sequeira
(Expert)
14 October 2007
Mr Ravi is right its 30.90% for turnover under 1c for above its 33.99%
15 October 2007
Ms Pinki, don't be confused abt deffered tax rate, because deffered tax is a concept put by AS and not by Fiscal Law. There is no such rate defined in Finance Act. Its only an accounting adjustment for better representation of final accounts
21 October 2007
thankyou all for sloving my query about deffered tax rate........
23 October 2007
Pinki,
Also u can refer the portal for the further clarification and AS-22 on Deferred Taxation
Also u can refer the portal for the further clarification and AS-22 on Deferred Taxation
Ravikumar.G
(Expert)
09 November 2007
Thanks for the inputs
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