DTA/DTL Calculation

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CA Jithesh C (Querist)
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20 February 2009 Can anyboby explain me the calculation of DTA/DTL in the following situation.

Accounting loss 1000000/- (Depreciation 100000/-)

IT loss Rs 1200000/- (Depreciation Rs 300000/-)

Tax Rate 33.99%

Vishal Chaturvedi

Vishal Chaturvedi (Expert)
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20 February 2009 as their is loss their is no case of DTA/DTL.only if future expected profit is there

Deepak Agrawal

Deepak Agrawal (Expert)
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21 February 2009 In the given example, the expense claimed in Tax is more than accounts. There it would be DTL at Rs. 66667/-
(33.99%*(3lacs - 1 lacs))

CA Jithesh C

CA Jithesh C (Querist)
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22 February 2009 Dear Deepak Sir,
What about DTA on loss. There is virtual certainty regarding future expected profit.

Thanks in advance.

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