TaxTMI 
TaxTMI 
Defferred Tax Asset & Liability
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....efferred Tax Asset & Liability<br> Query (Issue) Started By: - NATHURAM KADAM Dated:- 7-7-2012 Last Reply Date:- 10-7-2012 Income Tax<br>Got 2 Replies<br>Income Tax<br>Dear Sir, My client is Pvt. Lt....
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....d. 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 a....
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....s 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 o....
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....n 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 liabi....
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....lity to be recognized in current year. And how to pass the journal entries in accounts. Thanks & Regards Reply By CA GOPALJI AGRAWAL: The Reply: Your querry is not disclosing complete facts like p....
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....reliminary 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 Shar....
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....e Capital Increase) ======== Total Exps. 85800 ======== Total Exps. 85800 /5 Years = 17160 (Deduction u/s 35 D of IT Act 1961.)<br> Discussion Forum - Knowledge Sharing ....