deferred Tax Asset/ Liability

This query is : Resolved

Srikanta Adhikary (Querist)
Follow

30 December 2008 Dear Sir,

Kindly advice on the Computation of the Deferred Tax for the following case:

Particulars

Amount (Rs.)

Profit as per Profit & Loss Account
790.00

Add: Depreciation under Companies Act
25,069.00

Less: Depreciation under Income Tax Act
59,904.00

Taxable Income
(-) 34,045.00

M A T under Section 115 J B

Profit as per Profit & Loss Account
790.00

Adjustments
NIL

Book Profit
790.00

M A T @ 10.30%
81.00

What would be the Deferred Tax for the year?

Thanking you.

Yours truly,

Srikanta Adhikary

Deepak Agrawal

Deepak Agrawal (Expert)
Follow

22 January 2009 MAT is below the line item i.e. profit...

So it will not be affected for DTA / DTL...

DTL will be recognised for 33.99%(59904-25069)