Festive Savings Are Here. Get 10% OFF on All CCI Pro Plans. Subscribe Now!

DTA/DTL

1517 views

Save Share

rahul

CA Final student

38 Points Posted on 10 November 2007

AFTER CONSIDERING THE TIMINF DIFF. & COMPUTING TAX THERE ON AT RATES SUBSTANTIVELY ENACTED AS ON B/S DATE ,AM I SUPPOSE TO RECOGNISE THAT AMT IN P&L OR AM I SUPPOSE TO GIVE SUCH AN EFFECT MY P&L SO THAT SUCH DERIVED AMT APPEARS IN B/S....

E.G.: DTA AS ON 31.3.2006 IS RS.20K

DTL AS ON 31.3.07 IS SAY RS.25K

WHAT''LL BE AMT IN P&L A/C .....

Replies (1)

Niraj Pareek

CA Final

26 Points Posted on 11 November 2007

Two entries has to be passed, 1st for W/O opening DTA and 2nd for recognising current year deffered tax.

1. P/L Dr. 20K DTA Cr. 20K

2. Deffered tax Ex. Dr. 25K
Deffered tax liability cr. 25K

Total deffered Expanse in P/L is Rs.45K