Effect on deffered tax

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tribhuwan (Querist)
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18 September 2015 Due to the change in the method of depreciation in the current year from WDV TO SLM the depreciation of 1100000 is reversed as an exceptional item without having any change in taxable profit and also the deffered tax asset is standing in the previous year of 300000 and current year depreciation as per slm is 950000

My query is will the reversal of depreciation will have any effect on deferred tax???

normally calculation of DT
depreciation for CY companies act 950000
reversal of dep (1100000)
less: as per IT 1000000
defferd tax liab 1150000*30.9%

IS it correct???

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 September 2015 Yes it is correct.........

tribhuwan

tribhuwan (Querist)
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18 September 2015 i knew it was correct but the thing is i failed convincing my CA regarding this. can u please provide me some refrence regarding this

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 September 2015 You have to refer Accounting Standard 22.

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