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
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
CAclubindia
