account exe
593 Points
Joined August 2011
first calculate deprecation as per income tax than deprecation as per company act
now
1) if depreciation as per income tax is greater than as per company act
thn passed entry -
Deffered Tax Dr (amount = depreciation @ 30.9%)
To Deffered Tax laibilty
2) if depreciation as per income tax is Less than as per company act
thn passed entry
Deffered Tax Dr
To Deffered Tax Assets