Originally posted by : Yasaswi Gomes new
	Disposals valuation is lower of carrying amount or NRV. Carrying amount is 8k minus impairment= 0, Fvlcd=4k. That's why asset is fully impaired Dr. Bank 5160 Cr. GST 1120 Cr. Tcs 40 Cr. Laptop scrap sale 4000 And  Dr. Impairment loss 8k  Cr. Laptop 8k  And Dr. Dta asset  Cr. P&L 2,667 DTA arises for 3 years useful life. Then scrap at 1% and e waste at 28% Sorry! Hope the numbers are right and all transactions complete!

What is this ya...??

I think offset dta with dtl and take the current deferred taxes to deferred tax moment and then credit if DTA or debit if dtl arises in the momentum. 

@ Raja PM people are asking compliance for interview questions. Hence practised it live to test my understanding. Anyways what's your opinion on dta?

Bro,

I don't have knowledge about this bro...

Sorry to Say,

Better to post Your requirements in separate forum. Also better, post a article with Your best views...

But, Querist is a beginner as per his statement. So, Better way to leave replies without confusing querist...

@ Raja PM no need for sorry and atleast your not dominating like others when you don't know something. This doesn't mean your not a CA.  When I studied, deferred tax moment was taught with current taxes and I'm wondering about previous years provision and current years calculations. I'll find out soon cause loads of examples available online and reply back to you. Happy Sankranti 

No issues Mr Yasaswi,

I understand your query and inputs.

But, it's not a forum to discuss/ask your thoughts or doubts or views.

Post a separate query. You can get exact solution and many views from experts.

But, this query is for others. We don't discuss Your thoughts in this forum...

I think understand my reply... Right...??!

@ My Videos

2667*30% tax rate= dta

Then calculate dta and dtl for other transactions

Find out their net value

You will get the closing balance of (dta) or dtl

If the total result is dta 

Dr. Deferred tax asset

Cr. Profit and loss

If the total result is dtl

Dr profit and loss

Cr. Deferred tax liability

It's pretty much the same like I wrote yesterday

You also Can pass  combine entry  as follows  

Cash    A/c    Dr             4000

Deprecation   A/c  Dr     8000

Loss on Sale   A/c  Dr    8000

To  Laptop      A/c   Cr                 20000

(  Damage laptop sold for loss ) 

Deprecation  transfer to P&L  A/c entry

P& L   A/c   Dr          8000

To Deprecation  A/c  Cr      8000

(  transfer entry ) 

Loss on sale transfer to P&L a/c entry 

P&L  A/c   Dr       8000

To Loss on Sale  A/c  Cr    8000

(  loss on sale transfer entry ) 

You have to check weather GST is applicable or not on sale damage asset  , and charge accordingly .  

Originally posted by : Yasaswi Gomes new
	@ My Videos 2667*30% tax rate= dta Then calculate dta and dtl for other transactions Find out their net value You will get the closing balance of (dta) or dtl If the total result is dta  Dr. Deferred tax asset Cr. Profit and loss If the total result is dtl Dr profit and loss Cr. Deferred tax liability It's pretty much the same like I wrote yesterday

@ Yasaswi.,

I can't understand this reply...

Bcoz, Here You noted 30% tax rate, DTA & DTL...

Why these 30% Tax Rate, DTA & DTL..?

Where is applicable 30% tax rate, DTA & DTL...?

You already debited loss on sale in first compound entry. It's not correct to transfer again

No need to transfer loss again

Originally posted by : RAJA P M
	Originally posted by : Yasaswi Gomes new @ My Videos 2667*30% tax rate= dta Then calculate dta and dtl for other transactions Find out their net value You will get the closing balance of (dta) or dtl If the total result is dta  Dr. Deferred tax asset Cr. Profit and loss If the total result is dtl Dr profit and loss Cr. Deferred tax liability It's pretty much the same like I wrote yesterday           @ Yasaswi.,   I can't understand this reply... Bcoz, Here You noted 30% tax rate, DTA & DTL...   Why these 30% Tax Rate, DTA & DTL..? Where is applicable 30% tax rate, DTA & DTL...?

Hi  Infact it's tax dep-company dep= timing difference. You multiply this with your current tax rate (it is 20 or 30% currently) and that is DTA or DTL. So you recognise it at the end of year cause I don't know how it can be derecognised in ERP. I know it in tally though. Regarding this contact your auditor

Bro,

I think You don't know what is the query...

Please go and read from starting. After check your replies...

You can found what you put here...

Originally posted by : RAJA P M
	Bro, I think You don't know what is the query... Please go and read from starting. After check your replies... You can found what you put here...

Always point a mistake what you have found. I always do only that and don’t revise my treatments