As 22 _ c/f loss

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

 

 

 

 

 

Replies (3)

Dear ,

DTA & DTL is created on Accounting differece under two set of books i.e. Accounts & Income Tax.Also you have not clarifed under which book this loss has been booked.However if this loss relate to Income tax then under income tax loss is allowed to be carried forward & set off.

Therefore in this case you can create DTL  for depreciation.

DTA would be created by Debitting DTA Account & Credit P&L Accounts in Accounts.

Thanks 

Sir , now i have given correctly.. pls clarify Sir.. How much DTA &/ DTL is created and balances for Year 1 & year 2

 

Year 1  = Net Loss Rs. 100000/-(including depreciation) (as per financial books)

Year 2 = Net profits Rs 150000 (including depreciation) (as per financial books)
 

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

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

Tax rate = 35%

Net profit /loss means ...i have considered PBT but after dep

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details
Company
ARTICLESHIP 25 October 2026
Article Intern (CA Articleship)

Arpan Bohra & Co

Hyderabad

CA Inter

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
ARTICLESHIP 28 October 2026
Article assistants

Shyam S Gupta and Company

New Delhi

CA Inter

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details