Regarding calculation of dta or dtl

This query is : Resolved

Chander Kishor (Querist)
Follow

10 October 2013 Dear All
I have an query regrading calculation of DTA or DTL. So all the experts are requested to comment on this query because many of CA are confused about that calculation.
Example:
If a company formed on 05.04.2012 and purchased a computer on the dated 10.05.2012 of Rs. 20,000/-. As per the company Act, the amount of Depreciation is Rs.7,145/- and as per income tax, the amount of Depreciation is Rs. 12,000/- at the end of the F.Y. 2012-13.
Now my query as about that whether DTA or DTL is calculated in the first year. if yes, then what about the calculation if company has incurred loss of Rs. 70,000/- in the First year and a profit in the Second Year of Rs. 30,000/-.
Please share your valuable views on this query...........

CA Pallav Singhania

CA Pallav Singhania (Expert)
Follow

10 October 2013 The Difference of the Dep as per IT act and Co. Act..
12000-7145 = 4855
DTL @ 30.9 is created = 1501

For the complete guidance of DTL and DTA pls go thru this..

https://www.caclubindia.com/articles/meaning-of-deferred-tax-liability-asset-in-simple-words-13385.asp

regards,

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now