TMI BlogDefferred Tax Asset & LiabilityX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TCG 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) 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... accounts. Thanks Regards - Reply By CA GOPALJI AGRAWAL - The Reply = Your querry is not disclosing complete facts like preliminary as per it act,then what is the total expenses etc. - Reply By NATHURAM KADAM - The Reply = Prelimery Exps. ==== Rs.19800 (For Share Capital Increase) Prelimery Exps. ==== Rs.66000 (For Share Capital Increase) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ======== Total Exps. 85800 ======== Total Exps. 85800 /5 Years = 17160 (Deduction u/s 35 D of IT Act 1961 .) - Defferred Tax Asset & Liability - Query Started By: - NATHURAM KADAM Dated:- 7-7-2012 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rsonal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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