How Deferred Tax will be calculated if,
Cost of Investment (Long) - ₹100
Provision for Diminution - ₹20
And at what rate the Deferred tax is calculated, because when investment is sold the rate applicable is 20% ?
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Deferred Tax in case of Provision for Diminution in Investment.
Replies (1)
Carrying amount is Rs.80 but the tax base remains same i.e 100 so the difference will be considered as deductible temporary difference and Hence DTA should be created ...and the rate will be enacted rate on the reporting date
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