17 September 2010
Sir I want to know the treatment of Deferred tax. Situation is :- Income tax Companies WDV 61982 69456 - Dep 9297 Nil Closing WDV 52685 69456
Last Year Closing Value Shown In Balance Sheet Def. Tax Liability Rs. 2540.
17 September 2010
As per your example WDV as per Income tax 61982 dep 9297 Wdv as per Companies 69456 dep nil how it is possible dep is nil in companies act? Now we assumed that it may be then Defferd tax liablity is to be made by Rs.3160 .
Now in Balance Sheet Deffered tax liabiity balance is Rs 5700/-.
CAclubindia
