21 July 2012
Sir Please Calculate DTL/DTA in following case Opening Deferred Tax Liabilities - 2064/- WDV as per Co. Act (31.03.2012)- 91218/- WDV as per It Act (31.03.2012) - 102457/-
Dep. as per Co. act. - Add During the Year - 27856/- - Less Durning the Year - 6714/- (Mobile lost in thift so Dep. less in this year) Dep. as per IT act. -23121/-
21 July 2012
As per WDV Menthod Excess W.D.V as per Income Tax Rules Rs.102457-91218= 11240/- 11240x30.90%= 3473 Opening DTL= 2064 Current DTA= 3473-2064= 1409 DTA Dr 1409 To Deferred Tax Adj. A/c 1409
As per Dep. Method DTL has to be made for Rs. 1979/-
21 July 2012
Please Adj P&L Account with Rs. 1409 Don't Show DTL in Balance Sheet Only Show DTA in Balance Sheet with Rs.1409 yes current DTA as per my calculation is also Rs.3473 but I have adjusted with Previous Year DTL of Rs.2064 so remaining DTA is Rs.1409 has to be created for the current Year.
23 July 2012
Sir if i show 1409/- as DTA in balance sheet and if I Adjust P&L with Rs. 1409/- than in my Balance sheet Difference create with Rs. -2064. So i thing this is not Correct treatment. and If i Show DTA Rs. 3473 and P&L Adjust with Rs. 5537, than there is no difference in Balance sheet
CAclubindia
