deferred tax liability

This query is : Resolved

Kumar Babu.G (Querist)
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06 July 2008 1st year:
Profit as per books:Rs.9715
depreciation as per books:72740
dep as per IT act:294324
diff is 221584
deferred tax liability @30.99% - 68669
2nd year:
DTL opening balance;68669
profit as per book:10054
dep as per books:72740
dep as per IT act:254355
diff:181615
DTL@30.99% 56282/-
DTL Closing balance- 124951

we will generally debit p/l a/c &credit DTL a/c in the year of OTD ,from which year we will write back the DTL &how much amount?i.e., what is the year of RTD?

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
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07 July 2008 The reversal process or the write back of DTL will start from the year where the depreciation as per IT is less in comparision to the same as per Co.Act.

Kumar Babu.G

Kumar Babu.G (Querist)
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07 July 2008 thank u sir

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