Regarding calculation of dta or dtl
This query is : Resolved
Chander Kishor
(Querist)
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...........
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
(Expert)
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,
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,
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