31 October 2008
Prepaid and warrant liability are in the nature of Asset & liability respectively. which will not route through P&L account whether in this yr or in the next year(No timing or permanent diffe). so those two will not attract for DTA /DTL.
The only item which attracts DT is Depreciation. i wil explain wit this example.... Cal'n of DTA/DTL:
Net profit as per P&L (say) 100,000.00 Add: Depn on equipements as per Cos act(say 13.61% on open WDV 2Lacs) 27,220.00
Less: Depn on Equipent as per IT on Open WDV of Rs.1.2 lacs @ 15% 18,000.00
Net Profit for DTL caln 109,220.00
IT payable as per Cos act(100000*33.99/100) 33,990.00
IT payable as per IT act(109220*33.99/100) 37,123.88
DTA (IT as per IT act - IT as per Cos act) 3,133.88
CAclubindia
