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TMI BlogDeffered Tax Asset & Deffered Tax Liability.X X X X Extracts X X X X X X X X Extracts X X X X ..... Deffered Tax Asset & Deffered Tax Liability. X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cts -- 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 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 35 D of I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . T.) 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 Reply By CA GOPALJ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I AGRAWAL:
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