02 August 2010
Sir, I would like to know about how to calculate deferred tax asset/liability and its treatment during preparing profit and loss and balance sheet of companies. pls advice.
As at 31.03.2010 W.D.V. of Fixed Assets as per Companies Act 46047096.32 W.D.V. of Fixed Assets as per Income Tax Act 34161902.89 Short Depreciation charged as per Companies Act 11885193.43 Deffered Tax Liabilities @ 33.99% on Depreciation 4039777
02 August 2010
Sir first thank for reply. but I'm literely confused between your answer and other person. The other people is giving answer through net. if IT ac depreciation more than the companies act, then it will treat as liability, but as per your above reply it shown vice versa. pls clrify.
02 August 2010
Dear Krishna, Please check the answar carefully. Short depreciation charged as per company act means depreciation on it is more. that is why deffered tax liability arises.
21 September 2010
Sir, I would like to know what is the procedure of opening for Sole Proprietorship firm in Chandigarh. Basically, One of my client wants to open Placement Consultancy Services. Is Registration compulsory for him or not if yes pls let me know the procedure.
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