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Deferred tax

gayathri maruwada (84 Points)

21 August 2019

Should I create deferred tax for amortisation of lease hold land?

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Kapadia Pravin (17249 Points)
Replied 21 August 2019

Didn't follow your query.

gayathri maruwada (84 Points)
Replied 22 August 2019

co.has taken land for lease and it is amortised based on the lease period in the accounting books.What is the impact of this as per income tax act and if yes is there any need to create deferred tax ?

Kapadia Pravin (17249 Points)
Replied 22 August 2019

Over a period of lease period you have to amortize proportionately every year and show in P&L

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