12 July 2013
There is an increase in surcharge from 5% to 10% for this FY.
Do we have to restate existing balances of DTL in books with new tax rates and consider entire impact of increase in liablity in current period itself?
Eg: There is DTL balance of Rs 10 cr as on Mar'13 @ old tax rate 32.45%. For current quarter even though there is no new DTL created. P&L has to absorb effect of revised tax rate @ 33.99% in current period and hence there is huge impact in the P&L.
CAclubindia
