TAx loss and Tax Profit
This query is : Resolved
08 April 2009
Hi,
If a company is charging Rs1500 Depreciation as per accounting and Rs1200 Depreciation for tax Purpose.
there is the Tax Loss of Rs300..
I m not able to interprate that how it is loss for company ,,it is look like a gain as the company is paid lesser tax because of Charging higher Depreciation.
my query : why it is Tax loss and please interprate and also give some brief on Tax Base.
Its urgent
Regards
Anil Meena
If a company is charging Rs1500 Depreciation as per accounting and Rs1200 Depreciation for tax Purpose.
there is the Tax Loss of Rs300..
I m not able to interprate that how it is loss for company ,,it is look like a gain as the company is paid lesser tax because of Charging higher Depreciation.
my query : why it is Tax loss and please interprate and also give some brief on Tax Base.
Its urgent
Regards
Anil Meena
08 April 2009
Take it in another way..If you are chargingmore today then yu will charge less tomorrow.
So in future your income gonna increase and thus increase of tax liability.
So in future your income gonna increase and thus increase of tax liability.
08 April 2009
Hi Prakash,
Thanks for Reply but my question is why we consider it tax loss for todays statment. ?
Thanks for Reply but my question is why we consider it tax loss for todays statment. ?
08 April 2009
hi prakash,
your view is contradicting ,,
Can you give me some more brief about its concept.
Regards
Anil
your view is contradicting ,,
Can you give me some more brief about its concept.
Regards
Anil
08 April 2009
Dear Anil, your question itself not clear. When you are charging lesser depreciation in Income Tax then it means you are showing higher profits in Income tax and paying higher tax. How are you saying it a tax gain. Can you please elaborate your question exactly.
08 April 2009
Dear Anil, your question itself not clear. When you are charging lesser depreciation in Income Tax then it means you are showing higher profits in Income tax and paying higher tax. How are you saying it a tax gain. Can you please elaborate your question exactly.
08 April 2009
In this case there will be Deferred Tax Liablity on 300/-.
08 April 2009
sorry
suppose the depreciation as per :
accouting :- 1200
tax :- 1500
then what is the tax loss the meaning of tax loss of Rs 300 ?
suppose the depreciation as per :
accouting :- 1200
tax :- 1500
then what is the tax loss the meaning of tax loss of Rs 300 ?
09 April 2009
here u are different your question was accounting 1500 and tax 1200 now you change your question. please clerify it
10 April 2009
please ans my last query,,i already said SOrry
:-}
:-}
10 April 2009
please ans my last query,,i already said SOrry
:-}
:-}
10 April 2009
Already Answered by me.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- TDS on property - Form 141 query
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- ITR-3 File/Error Found
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
