Deferred tax asset, depreciation
This query is : Resolved
27 April 2015
Prior to the new companies act 2013, the difference between the two depreciations used to tally with the difference between the wdv as per companies act and income tax. In view of the new companies act where straight line method has to be followed and depreciation for income tax has to calculated on old basis the difference between the two wdvs will not tally.So please advice whether we can go ahead calculating deferred tax on the difference between the depreciations as per the companies act and income tax act. although the diff will not tally. please advice
27 April 2015
You can go ahead calculating deferred tax on the difference between the depreciation as per companies act and income tax act.
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