Deferred tax

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manas kumar swain (Querist)
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20 September 2012 I want to Know regarding deferred tax
And sopposed
Loss after depreciation-500000
Depreciation as per books-150000
depreciation as per it-200000
W D V as per it-1000000
W D V as per company-2500000
Business loss brought forward-3800.
And deferred tax assets of last year-630000
How can i provide deferred tax
PLZ Advise me

CA.Vinita Gupta

CA.Vinita Gupta (Expert)
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20 September 2012 Defferred Tax is the Tax effect of Timing Difference

Timing Difference are the differences between taxable income and accounting income for the period that originate in one period and capable of reversal in one or move subsequent periods

Substantialy enacted rate * (differnece between the WDV as per Companies Act and IT Act)