dta

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 April 2010 Suppose previous year in the annual accounts Deferred Tax asset (DTA) was 20000,and this year Deferred Tax Liability is 30000, kindly tell me how much I have to pay tax, what should be done in balance sheet this regards.

CA KISHORE VANAMA

CA KISHORE VANAMA (Expert)
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22 April 2010 Hai, As per AS 22 if a company have both deffered tax asset and liablity we can set off each other or we can show it seperately and deffered tax is calculated for the purpose of maintainance of books of accounts on accrual basis . Normally Tax has to be paid as per income tax calculation only.