DTL

AS 856 views 2 replies

i want to know that,

what is the treatment of "Profit/ Loss on sale of Assets" in calculating the Deferred Tax Assets and Liability.

Replies (2)

Profit / loss on sale of assets would result into a deferred tax / liability depending on the rate of depreciation which you have accorded in the past in financial accounts and as per taxation law.....

If the depreciation rateis same then there wont be any deferred tax asset or liability as the cost is same, sale price is same while the usage and depreciation on the asset is same.

Regards,

There is a Simple Way to Create the DTL and DTA on the Fixed assest.

WDV of the FA as per Books of Account -----

WDV of the FA as per IT Act                     -----

Difference                                                 -----

If WDV in the Books is higher than the IT act it resulted into DTL and if the WDV in the IT is Higher than its resulted in to DTA.

 

 

 

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details