06 July 2017
On 31st march, 2017 we know that Income tax rate for FY 2017-2018 would be 25%, since our turnover is less than 50 crores. At what rate we would recognize DTA/DTL in our books on 31st March, 2017, @30% i.e. taxable rate for FY 2016-2017 or @25% since that much benefit we would derive fro DTA/DTL. Please Quote relevant provision as well.