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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

tpksathyan narayanan

S D Kannan

ASIM ATREY AND ASSOCIATES

Tanishka Khandelwal

Vimlesh kumar

Subscribe Now

Regarding calculation of dta or dtl

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA