https://www.taxtmi.com/forum/issue?id=4366 A private limited company reports temporary differences for FY 2011-12: opening deferred tax asset 10,489; preliminary expenses amortised for tax 17,160 (85,800 over five years); depreciation per Companies Act 69,722 and per Income Tax Act 83,370; book profit 2,314,052 and taxable income 873,200; computed regular tax and a higher MAT based on book profit. The taxpayer asks for the amount of deferred tax asset or liability to recognise and the journal entries to record those deferred tax effects. en-us Fri, 13 Jul 2012 13:00:42 +0530 Thu, 23 Jan 2025 15:57:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=4366 A private limited company reports temporary differences for FY 2011-12: opening deferred tax asset 10,489; preliminary expenses amortised for tax 17,160 (85,800 over five years); depreciation per Companies Act 69,722 and per Income Tax Act 83,370; book profit 2,314,052 and taxable income 873,200; computed regular tax and a higher MAT based on book profit. The taxpayer asks for the amount of deferred tax asset or liability to recognise and the journal entries to record those deferred tax effects. Discussion-Forum Income Tax Fri, 13 Jul 2012 13:00:42 +0530 https://www.taxtmi.com/forum/issue?id=4366