URGENT HELP NEEDED - DEFERRED TAX
This query is : Resolved
Quick Summary
08 May 2020
Book loss - Rs.100/-
Income tax Loss -Rs.80/- (due to disallowance of expense of Rs.20/-)
Deferred tax liability or asset ?
On what amount ? on 100 or 80 or on 20 ?
Please reply me with reason.
I am waiting for reply.
Income tax Loss -Rs.80/- (due to disallowance of expense of Rs.20/-)
Deferred tax liability or asset ?
On what amount ? on 100 or 80 or on 20 ?
Please reply me with reason.
I am waiting for reply.
08 May 2020
1 Deferred tax asset as loss will be carried forward and adjusted in future.
2 Deferred tax asset on 80 only as tax provisions related to income tax.
2 Deferred tax asset on 80 only as tax provisions related to income tax.
09 May 2020
Yes loss as per Income Tax for Rs. 80 will be carried forward and would be shown as an asset. It has be adjusted with future profits.
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
- CAPITAL GAIN REDEVELOPED FLAT
- Multiple payment of self assessment tax for A Y 2025-2026
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- CLOSING STOCK QUERY
- Error in uploading Form 10BD
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- ITC BENEFIT ON BROKRAGE PAID
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
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
