Defferred Tax Liabilities
This query is : Resolved
22 September 2010
Hi, this is anand (Mgr. A/C) from Urmil Motors.
My quarry is about Deffered tax liability.
See We have Demo Car for Test Drive Demo (to our new customer) purposes amounting Rs.70 lac.
Is there any DT liability should be raised while we are using these for business generating purpose.
Urgent
regards,
My quarry is about Deffered tax liability.
See We have Demo Car for Test Drive Demo (to our new customer) purposes amounting Rs.70 lac.
Is there any DT liability should be raised while we are using these for business generating purpose.
Urgent
regards,
22 September 2010
Demo Car is a Fixed Asset for Automobile retailers. The defered Tax asset/liability arising due to timing difference on account of difference in depreciation is to be created.
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
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Minimum tax payable to file Updated return
- SALARY CAN BE CAPITALIZE
- GST ISSUE OF INPUT AND OUTPUT GST
- Change Of Karta In Case of Death
- Tax rate change regarding
- Salary from Qatar in Dollars in India
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
