Deferred tax

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keerthi (Querist)
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26 September 2012 Ours is a pvt ltd company with business loss (before Depreciation) of Rs 4,66,09,125 and depreciation of Rs 4,97,33,247 as per IT Act n Rs 4,69,21,677 as per Companies Act for the year 2011-12 being first year of business.

pl guide me to calculate deferred tax in this case n also case of DTA or DTL pl specify

keerthi

keerthi (Querist)
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26 September 2012 pl reply at the earliest

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 September 2012 1) Timing difference on account of depreciation is Rs. 28,11,570/-

2) DTL @ 30.90% on the above , Rs. 8,68,775/-

3) DTA on business loss can be recognized if there is virtual certainty that income will generate in the ensuing year.

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neeraj

neeraj (Expert)
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26 September 2012 Dep as per IT act -46921677
Dep as per Co act - 49733247
Timing Diff - 2811570
DTA (since dep is less in IT act) 2811570*30.9% - 868775

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keerthi

keerthi (Querist)
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26 September 2012 BUT SIR PL CONFIRM ME IS IT A CASE OF DTA OR DTL?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 September 2012 Depreciation as per IT being more, recognize DTL.

keerthi

keerthi (Querist)
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26 September 2012 Thanks for resolving

neeraj

neeraj (Expert)
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