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