Re : Depriciation and Value of asset

This query is : Resolved

sanjay (Querist)
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11 July 2009 After providing depriciation as per companies act if the value of that asset becomes zero, then what will be the effect while calculating depriciation of that asset as per income tax

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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11 July 2009 dnt compare accounts figure with income tax figures calculate depreciation as per income tax method i.e. as per block

sanjay

sanjay (Querist)
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13 July 2009 Thanks Mam. But while calculating DTA or DTL it will afftect your balance sheet and p&l. In that case how we have to calculate DTA or DTL. (Deffered Tax provisions)

You are also requested to provide calculation method of DTA and DTL.

2. How to calculate Minimum Alternate Tax. Kindly Provide the table for the same.

Thnking You
Sanjay Dave

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