Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Discussions Forum
Home Forum Income Tax This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

Defferred Tax Asset & Liability , Income Tax

Issue Id: - 4366
Dated: 13-7-2012
By:- NATHURAM KADAM

Defferred Tax Asset & Liability


  • Contents

Dear Sir,

My client is Pvt. Ltd. Company and his accounting figure  for the FY 2011-12.

Deffered Tax Assets Op. Bal -  Rs. 10489
Preliminary Expenses as per IT Act                 --  Rs. 17160
Depreciation as per Co. Acts                        -- Rs. 69722
Depreciation as per IT. Acts                         ----Rs.83370
Book profit as per P & L A/c. --- Rs. 2314052 Including STCG Rs. 132902 & LTCG Rs. 1408209 on share & Dividend Rs. 19000)

Total Income as per Computation                  --- Rs. 873200

Tax on total income       --- Rs. 2,49,285 (STCG 20533+Normal tax 228752)

Minimum alternative tax --- Rs. 437316
(on Book Profit 2314052-19000)

Prelimery Exps.   ====  Rs. 19800 (For Share Capital Increase)
Prelimery Exps.   ====  Rs. 66000 (For Share Capital Increase)
                                                  ========
Total Exps.                               85800
                                                  ========

Total Exps. 85800 /5 Years = 17160 (Deduction u/s 35D of Income Tax Act, 1961)

What is the amount of Defferred tax asset or Defferred tax liability to be recognized in current year.

And how to pass the journal entries in accounts.

Thanks & Regards

Posts / Replies

Showing Replies 1 to 1 of 1 Records

Page: 1


1 Dated: 5-10-2012
By:- CA GOPALJI AGRAWAL

It is better to ask the exact issue instead of computation. 


Page: 1

Old Query - New Comments are closed.

Quick Updates:Latest Updates