Deferred tax
gayathri maruwada (86 Points)
21 August 2019
Should I create deferred tax for amortisation of lease hold land?
3 Replies
gayathri maruwada
(86 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
(17264 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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