Management has recognized a dividend receivable of Rs. 1 lac from wholly owned subsidiary in a single set of financial statements. The dividend is not taxable.
In such case, shouldn't tax base be taken as NIL given that dividend income is non-taxable? In the book I'm referring, tax base taken as 1 lac so temporary difference is NIL.
Please resolve
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Deferred Tax on dividend receivable
Replies (1)
it is in the nature of permanent difference though Ind as don't use this word. So tax base will be equal to carrying amount
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