08 September 2012
Timing diff (1823784-1603556)=220228 Deferred tax asset 30% = 66068 Last year DTL = 148781 net dtl = 82713 to be shown in non current liabilities currnt year dta of 66068 should be credited to profit and loss account.
With ref. Mr. Ilayaraja, CA's reply, he has not considered cess @ 3%. I think it will be @ 30.9%.
According to his calculation it will be: Net DTL = 80730 to be shown in Non Current Liab. Current Yr. DTA of Rs. 68051 should be credited to P/L. Account.
please provide the required journal entries regarding the matter as soon as possible.
CAclubindia
