Easy Office
LCI Learning

URGENT HELP NEEDED - DEFERRED TAX

This query is : Resolved 
Profile Image

Profile Image

(Querist)
08 May 2020 Book loss - Rs.100/-
Income tax Loss -Rs.80/- (due to disallowance of expense of Rs.20/-)

Deferred tax liability or asset ?
On what amount ? on 100 or 80 or on 20 ?
Please reply me with reason.
I am waiting for reply.
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
08 May 2020 1 Deferred tax asset as loss will be carried forward and adjusted in future.
2 Deferred tax asset on 80 only as tax provisions related to income tax.
Profile Image

Asha Kanta Sharmapro badge online

Profile Image

Asha Kanta Sharmapro badge online (Expert)
09 May 2020 Yes loss as per Income Tax for Rs. 80 will be carried forward and would be shown as an asset. It has be adjusted with future profits.
Upgrade to CAclubindia Pro. Subscribe Now!


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links