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                    CALCULATION OF DEFERRED TAXATION AS ON 31-MAR-2008

Particulars                                        Amount     Tax Rate   Amount
Amortisation of Amalgmation Expenses                  -          33.99      -

Fixed Assets
Difference in Block Value of Fixed Assets              -         33.99      -

Provisions
Provision for   Doubtful Debts                         -         33.99      -
Provision for   gratuity & Leave encashment            -         33.99      -
Provision for   Irrecoverable Advances                 -         33.99      -
Provision for   leave encashment                       -         33.99      -

Unabsorbed Depreciation & Business loss                -         33.99      -

Mat Credit Carried Forward                             -                    -     -

Total Deferred Taxation                                                     -
Working for Deferred Tax

     Tax rate Current                                                                      33.99%
     Tax rate                                                                              33.99%

Deferred Taxation Statement

     SCHEDULE FORMING PART OF ACCOUNTS:-

                          Deferred Tax Assets                          SCH.         Current Year      Previous Year

     Depreciation                                                        1                      -                -
     Accrued Expenses deductible on payment                              2                      -                -
     Preliminary Expenditure                                             3                      -                -
     Other Effects                                                       4           302,063,623.85              -
     Provision of doubtful debts and advances                            5                      -                -

                                   Total                                           302,063,623.85               -



                        Deferred Tax Liabilities

     Depreciation                                                        1                      -                -
     Preliminary Expenditure                                             2                      -                -
     Other Effects                                                       3                      -                -
     Provision of doubtful debts and advances                            4                      -                -

                                   Total                                                       -                -

     Net Deffered Tax Asset/(Liabilities)                                          302,063,623.85               -

     ACCOUNTING ENTRIES :-

 1   Profit & Loss Account                            Dr.                                       -
     Deferred Tax Liabilities/ Asset Account          Cr.                                                        -

     [Effect of change in deferred tax liability for the year]

 2   Deferred Tax Assets/ Liability Account          Dr.                                        -
     Profit & Loss Account                           Cr.                                                         -

     Recognition of Deferred tax assets to the extent of deferred tax liability)
                                                                                                             Page 1
                                  Computation for Tax for the period ended on March 31, 2008

                      Profit/(Loss) as per P&L A/c                                                      -

Add                   Disallowances Considered seperately under IT. Act.
                      Depreciation as per Books                                                   -
       344000         Loss on sale of assets                                                      -
       342001         Amortised cost of programmes                                                -
                      allowed in earlier year                                                     -
                      Expenditure of Capital Nature                                               -
                      Provision for leave encashment                                              -
       330109         Provision for gratuity                                                      -     -

Less                 Allowance under the Income Tax Act / Considered Seperately
                     Depreciation as per I T Act                                                  -
                     Dividend income exempt u/s. 10(35)                                           -
       272000/330110 Leave Encashment paid                                                        -
                     Amortised cost of Movies & Animation Programmes                                    -
                                                                                                        -
Less                  Unabsorbed Loss brought forward from previous years                               -
                      BUSINESS INCOME C/F. FOR SETOFF IN NEXT A.Y                                       -

                       TOTAL INCOME                                                                     -

                      TAX ON BUSINESS INCOME @ 30%                                                      -

Add                   SURCHARGE @ 10%                                                                   -
                                                                                                        -
Add                   Education Cess & Higher Secondary Education cess @ 3 %                            -

                      TOTAL TAX PAYABLE                                                                 -
                                                                                     PAYABLE/(REFUND)   -

Assumptions
 - Programming cost have been claimed at 100%. i.e. no inventorisation considered
                                                                                                                     A.Y. 2008 - 2009
Fixed Assets - Depreciation (As per Income Tax Act, 1961.)

Particulars                    WDV                    Additions              Deletions/   Total       Depreciation   Depreciation          WDV
                               As on            Upto             After         Sales                     Rate                             As on
                            01.04.2007       30.09.2007      01.10.2007                                                                 31.03.2008
                                            More than six    Less than six
                                              months            months

Plant & Machinery                     -               -                 -           -             -         15.00%             -                 -

Furniture & Fixtures                  -               -                 -           -             -         10.00%             -                 -

Computers                             -               -                 -           -             -         60.00%             -                 -

Office Equipments                     -               -                 -           -             -         15.00%             -                 -

Leasehold Improvements                -               -                 -           -             -         10.00%             -                 -




Total                                -                -                -            -             -                           -                  -
                                                                                                                                                  -
1 Depreciation
                                                WDV As per    WDV As per
                                                                           Deferred     Deferred
                Asset Group                     Income-Tax    Companies
                                                                            asset       liability
                                                    Act          Act

  Buildings                                             -            -           -              -
  Plant & Machinery                                     -            -           -              -
  Furniture and Fixtures                                -            -           -              -
  Office Equipments                                     -            -           -              -
  Vehicles                                              -            -           -              -
  Goodwill                                              -            -           -              -
  Computer                                              -            -           -              -
  Tools                                                 -            -           -              -
                                                        -            -           -              -
                                                       -            -
  Total                                                                          -              -

  Net Tax Effect                                                                 -

2 Section 36 and other Provisions
                                              As per Income   Balance as   Deferred    Deferred Tax
                 Particulars                       Tax        per Books    tax asset     liability

  Section 36 provision for Bad Debts                                             -              -
  Provision against Doubtful Debts                      -            -           -              -
  Provision for loans and advances                      -            -           -              -
  Provision for dimunition in value of Investment       -            -           -              -

  Total                                                 -            -           -              -

                                                                                       Page 3
                              Workings of deferred taxation

2      Expenses Allowed only on Payment
                                                                              Paid Before
                                                         Charged to Books      due date
      Section 43/B of Income Tax Act,1961
    a Any sum Payable as Cess, Tax, Duty                                                  -
    b Contribution to P.F.                                                -
                         Gratuity                                         -               -
    c Bonus                                                               -               -
    d Interest on loan from Public Financial Inst.                        -               -
    e Interest on term loan from Co-operative                             -               -
      Bank
    f Sum Payable by employer in lieu of
      leave at the credit of employee

       Total                                                          -               -

       Difference                                                     -

       Tax Effect                                                     -

3      Expenses disallowed in Income Tax Return

       Expense u/s 37

    a Personal Expenses
    b Prior Period Expenses
    c Penalties
    d Capital Expenditure

       Total                                                              -

       Tax Effect                                                     -

4      Expenses under Section 35D

       As per Accounts Balance                                            -

       As per Income Tax Balance                                          -

       Difference                                                         -

       Tax Effect                                                         -
       See instructions

5      Other Effects
                                                                              Deferred Tax
                                                         Deferred tax asset
                                                                                liability
      Insert as per its Tax Effect                                        -
    a VRS to the extent not written off                                   -               -
    b Dimunition in the value of investments                              -
    c Carried Forward Business Loss & Depreciation                        -
    d Other Effects                                                       -               -
                                                                          -               -
                                                                          -

       Total                                                              -               -

       Tax Effect                                                     -               -
INTRODUCTION OF TAX EFFECT ACCOUNTING

Workings of deferred taxation



       2        Expenses Allowed only on Payment
                                                             Charged to Books   Paid Before due date
              Section 43/B of Income Tax Act,1961
            a Any sum Payable as Cess, Tax, Duty
            b Contribution to P.F. and Gratuity
            c Bonus
            d Interest on loan from Public Financial Inst.
            e Interest on term loan from Co-operative
              Bank
            f Sum Payable by employer in lieu of
              leave at the credit of employee

                Total                                        -                  -

                Difference                                   -

                Tax Effect                                   -

       3        Expenses disallowed in Income Tax Return

                Expense u/s 37

            a Personal Expenses
            b Prior Period Expenses
            c Penalties
            d Capital Expenditure

                Total                                        -

                Tax Effect                                   -

       4        Section 36

				
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