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Querist : Anonymous

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Querist : Anonymous (Querist)
19 August 2016 A company has Rs 25 lac DTA balance as on 31-3-15. Current year there is DTA on account of current depreciation 2 lac and DTL on account of reversing of timing differences (43 B)items of Rs 5 lacs. Quries are:
1) Can the current DTA (rs 2 lac) be set off against current DTL (5 Lac) and the net computation for the year be shown at DTL 3 lac
2) Can this Net DTL of 3lac (or any other amount) be adjusted against opening DTA of Rs. 25 Lac.
3) Further, as there is total uncertainty about future earnings of the company, should the balance in DTA (Be it 25 lac as it is OR 22 (25-3) lac) be charged to the P&L of the current years.

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Kaushik Joshi

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Kaushik Joshi (Expert)
19 August 2016 Dear Anonymous, Answers to your query are as under: Q.1- Answer: Yes Q.2- Answer: Yes Q.3- Answer: No
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Querist : Anonymous

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Querist : Anonymous (Querist)
20 August 2016 More replies please
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