As 22 _ c/f loss

VEDANTA DESHIKA (Practice) (317 Points)

10 October 2011  

Dear Experts and Friends.

Pls give me the scheme of entries and balance sheet disclosure for the below hypothetical problem


A ltd purchases a plant in Year-1 for Rs 10 lakhs

In year 1 A Ltd incurs a loss of Rs 1lakh

In year 2, there is a net profit of 150000 ( this is after adjustment of depreciation)

depn rate - 13.91 % as per Co's Act , 25% as per IT Act

Tax rate = 35%


Thanks in advance