Friends,
plz help me to compute defferred tax liability for AY 2011-12 a company.
PY-2009-10
Loss as per books - Rs. 508213/-
Loss as per Income tax
Business Loss - Rs. 463878/-
Unabsorbed Dep. - Rs. 106059/-
PY 2010-11
Profit as per Books - Rs. 107619/-
WHEN THERE IS LOSS AS PER BOOKS AND TAX RECORDS BOTH IN A Y 2010-11 THERE IS NO QUESTION OF DEFFERED TAX ASSET OR LIABILITY
BUT TO KNOW DTA OF DTL FOR A Y 2011-12 YOU HAVE TO CALCUALATE TAXALBLE INCOME AND TAX THEREON FOR TAX RECORDS AND AS PER BOOKS SIMOUTANOUSLY SO JUST FIRST FIND THE TAXALBE INCOME FOR PY 2010-2011
LOSS AS PER BOOKS AND TAX RECORDS IN A Y2010-11 IS A PERMANAT DIFFRNECE SO AS 22 NOT APPLICALBE
PY 2009-10:
Tax liability as per book profit=NIL
Tax Liability as per IT Profit=NIL
Deferred Tax Asset/Liability=NIL
PY 2010-11:
Please mention IT profit
As IT profit in py 11-12 is Rs.269000.
As IT profit in py 11-12 is Rs.269000.
please also mention the reasons for diffrneces between profit as per books and profit as per tax records and quatum of each diffrnece
how cum to got profit for py 11-12 it must be py 10-11, please give full details yaar
CAclubindia
