FOR CREATION DTA AS PER AS 22
This query is : Resolved
SIDDHARTH KOTHARI
(Querist)
02 September 2009
DEAR SIR,
WHTHER THE DIVIDEND EXEMPT U/S 10(34)/(35) WILL BE CONSIDERED WHILE CREATING THE PROVISION OF DTA/DTL?
THIS QUERY IS ARISED DUE TO THE DILAMATIC PROVISION IN AS 22.IT SAYS THAT DIFFERANCE ARISING DUE TO "TAXABLE INCOME" AND "ACCOUNTING INCOME".BUT DIVIDEND IS AT ALL NOT TAXABLE INCOME.IT IS EXEMPT AS PER ABOVE MENTIONED SECTIONS.SO PLEASE GIVE ME SATISFACTORY REPLY REGARDING DTA / DTL.
WHTHER THE DIVIDEND EXEMPT U/S 10(34)/(35) WILL BE CONSIDERED WHILE CREATING THE PROVISION OF DTA/DTL?
THIS QUERY IS ARISED DUE TO THE DILAMATIC PROVISION IN AS 22.IT SAYS THAT DIFFERANCE ARISING DUE TO "TAXABLE INCOME" AND "ACCOUNTING INCOME".BUT DIVIDEND IS AT ALL NOT TAXABLE INCOME.IT IS EXEMPT AS PER ABOVE MENTIONED SECTIONS.SO PLEASE GIVE ME SATISFACTORY REPLY REGARDING DTA / DTL.
02 September 2009
It is a permanent difference Siddarth. The question of deffered tax arises for only those items which qualify as temporary difference.
02 September 2009
no deferred tax will be recognised on the same as it is a permanent difference and will not be reverted in coming years.
02 September 2009
agree with the expert
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