Dtl or dta
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 July 2015
Company X has investing in Plant & Machinery for the purpose of Additional Depreciation as per income tax.Company have a Book Profit 2 crore but due to heavy Investment in Plant & Machinery company taxable income for the purpose of income tax in Loss.so company can carry forward Unabsorbed Depreciation & how to create DTA or DTL as the case may be.
Please explain in detail of give any reference if any or section which need to be referred before same.
Thanks in Advance
Please explain in detail of give any reference if any or section which need to be referred before same.
Thanks in Advance
30 July 2015
DTL = tax rate* IT depreciation-Book depreciation.
Refer Accounting Standard 22.
Refer Accounting Standard 22.
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