Deferred Tax Asset

Page no : 2

CA PRAMOD SARAOGI (Chartered Accountant) (1113 Points)
Replied 13 March 2016

The answer is very simple. Unabsorbed Loss or depreciation carried forwatd according to the Income Tax is to be considered.

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Varun Randhawa (student) (22 Points)
Replied 17 March 2016

RESPECTED SIR ,

WHAT TREATMENT HAS TO BE MADE FOR THE PART OF THE DEPRECIATION WHICH IS ALLOWED AND PART OF THE DEPRECIATION REMAINS UNABSORBED DUE TO INADEQUACY OF PROFIT. SAY FOR EXAMPLE PROFIT BEFORE DEPRECIATION 100

DEPRECIATION AS PER INCOME TAX ACT 150 AND AS PER COMPANIES ACT IS 50 WHAT TREATMENT SHOULD BE MADE.KINDLY HELP ME TO UNDERSTAND THE ABOVE.

Pratik Nitin Vyas (Employed) (354 Points)
Replied 19 April 2016

Hello Learned Members,

In my books dep as per the compaines act is 4,009.00/- & as per IT is 14,502.00/- also i have a C/f loss of 1,35,150.00/- so how do i calulate in DTA or DTL.

Also can anyone make me understand the meaning of Pooled asstes concept.

Thanks

ARJUN SINGH DANGI THAKUR (.) (26 Points)
Replied 18 October 2016

our company has a profit as per books of a/c is rs . 50lakh. but in income tax there is loss of rs 1100 lakhs due to deduction u/s 35AD. I have a quary whether this will be create deferred tax assets or deferred tax liability. please substance your answer in details.