Please solve this for me -
Opening Defferred Tax Assets = 212218/-
Closing WDV as per Books = 1675143/-
Closing WDV as per IT Act = 1924406/-
Depreciation as per Books = 495432/-
Depreciation as per IT Act = 393269/-
What is the amount of Defferred tax asset to be recognized in current year, if any?
DTA will me Rs.31568.
Amit sir is correct .In current year DTA will be RS.31568.37
Thanks for response Amit ji. Can u also tell me how will this DTA be de - recognized? It of course cannot continue forever in the balance sheet.
Then we hav to write off it, by reverse entry.
CAclubindia
