banner_ad

Deferred Tax Asset

Tax queries 608 views 1 replies

Hi,

We have created a Deferred Tax Laiblity in the earlier years. Now the deferred tax for the f y 2008-09 is more than the Deferred Tax Laiblity. (Deferred Tax Laiblity  is 40000.00 whereas Deferred Tax for f y 08-09 is 45000.00) Should the Deferred Tax Laiblity be brought to '0' and leave the rest of the deferred tax or should we create a deferred tax asset? What needs to be done now?

Many Thanks in Advance.

Replies (1)

Hi Surekha,

For the same FY you have to make provision Net of DTA & DTL. As in your case in CY DTA is more that DTL, you have to create DTA provision net of the amount.

regards,


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details