CA Kishan Kabra (CA) (173 Points)
25 May 2011Friends,
plz help me to compute defferred tax liability for AY 2011-12 a company.
PY-2009-10
Loss as per books - Rs. 508213/-
Loss as per Income tax
Business Loss - Rs. 463878/-
Unabsorbed Dep. - Rs. 106059/-
PY 2010-11
Profit as per Books - Rs. 107619/-
CA NITUL MEHTA
(KPMG-Senior Consultant-International Tax )
(236 Points)
Replied 25 May 2011
WHEN THERE IS LOSS AS PER BOOKS AND TAX RECORDS BOTH IN A Y 2010-11 THERE IS NO QUESTION OF DEFFERED TAX ASSET OR LIABILITY
BUT TO KNOW DTA OF DTL FOR A Y 2011-12 YOU HAVE TO CALCUALATE TAXALBLE INCOME AND TAX THEREON FOR TAX RECORDS AND AS PER BOOKS SIMOUTANOUSLY SO JUST FIRST FIND THE TAXALBE INCOME FOR PY 2010-2011
CA NITUL MEHTA
(KPMG-Senior Consultant-International Tax )
(236 Points)
Replied 25 May 2011
LOSS AS PER BOOKS AND TAX RECORDS IN A Y2010-11 IS A PERMANAT DIFFRNECE SO AS 22 NOT APPLICALBE
CA Nitu Agarwal
(CA, M.Com)
(266 Points)
Replied 25 May 2011
PY 2009-10:
Tax liability as per book profit=NIL
Tax Liability as per IT Profit=NIL
Deferred Tax Asset/Liability=NIL
PY 2010-11:
Please mention IT profit
CA NITUL MEHTA
(KPMG-Senior Consultant-International Tax )
(236 Points)
Replied 26 May 2011
please also mention the reasons for diffrneces between profit as per books and profit as per tax records and quatum of each diffrnece
CA NITUL MEHTA
(KPMG-Senior Consultant-International Tax )
(236 Points)
Replied 26 May 2011
how cum to got profit for py 11-12 it must be py 10-11, please give full details yaar
CAclubindia
