Deffered tax
This query is : Resolved
24 December 2011
If Accounting Profit is Rs.5,00,000 , Book Profit as per MAT-4,50,000, Profit as per Income Tax Act Rs.50000/-, tax rate 30%,MAT rate 7.5%, what would be the amount transferred to Profit and Loss Account?
24 December 2011
Current Rate of MAT IS 18.50%
However Answer of your query is
Profit and loss appropriation - Dr Rs. 33750
to provision of Tax Rs. 33750
2.Deferred tax Assets- Dr. Rs. 18750
to profit and loss appropriation Rs. 18750
However Answer of your query is
Profit and loss appropriation - Dr Rs. 33750
to provision of Tax Rs. 33750
2.Deferred tax Assets- Dr. Rs. 18750
to profit and loss appropriation Rs. 18750
25 December 2011
but AS 22 says MAT can b=never be adjusted against Defferred tax.?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Tds on building rent monthly
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
