Defered tax asset

Jyoti (Student CA IPC / IPCC) (111 Points)

12 September 2014

If there is any Dta on asset shown in B/s bt but there is not asset.. Den what should be the treatment of DTA in Financial statement..?

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Ravi Reddy (ca final) (139 Points)
Replied 13 September 2014

A Reversal entry should be made as follows:

P&L A/c Dr

To DTA a/c

Jyoti (Student CA IPC / IPCC) (111 Points)
Replied 13 September 2014

Thank u.. Is it prior period item ..?

Ravi Reddy (ca final) (139 Points)
Replied 18 September 2014

No, it is not a prior period item.

Jyoti (Student CA IPC / IPCC) (111 Points)
Replied 19 September 2014

In which head in St. of P&L ?

Ravi Reddy (ca final) (139 Points)
Replied 19 September 2014

This is extract of P&L statement; in Tax Expense column we can have DTL as follows:

Jyoti (Student CA IPC / IPCC) (111 Points)
Replied 10 October 2014

Thank you sir for solving my problem.

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