Deferred tax asset/liability

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 September 2011 sir in case of a private company the company is writting off preliminery expenses rs 8000 every year which is wrong but preliminery expenses allowed as per income tax act rs 1000 each year. this is the last year(5th year)OF DEDUCTION AS PER INCOME TAX ACT. I am confused whether DTA or DTL should be created ? PLZ ITS URGENT.

CA Pushpendra Gaur

CA Pushpendra Gaur (Expert)
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27 September 2011 Well, I believe this is not a timimg difference for which you are required to create defferred tax asset/ liability. The difference is permenant and no treatment is required

CA Pushpendra Gaur

CA Pushpendra Gaur (Expert)
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27 September 2011 The above suggestion is in lines with AS 22 plz refer the same also

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