Question ID : 152

How to calculate Deffered Tax Liability in case party is eligible for deduction u/s 80-IC.

MY QUERRY IS HOW TO CALCUTE DEFFERED TAX LIABILITY
TO BE SHOWN BANCE SHEET AS AT 31.3.2005
IF FOLLOWG PARTICUR TO BE DEALT WITH
ELIGIBLE DEDUCTION U,S 80-IC

FIRST FIVE YEAR 100%
Next Five year 30%

DEPRECIATION AS PER COME TAX ACT FOR THE YEAR
Year 2004-05 2005-06 2006-07
Dep.IT 1662701.69 4138122.20 3232622.62
Dep Co. 1376546.72 2812533.49 2433081.16
Diff. 286154.97 1325588.70 799541.46

Year 2007-08 2008-09 2009-10
Dep.IT 2543052.83 2014745.67 1607857.31
Dep Co. 2109371.05 1832084.61 1593763.66
Diff. 433681.78 182661.06 14093.65

Year 2010-11 2011-12 2012-13
Dep. IT 1292882.84 1047770.62 855947.62
Dep.Co 1388357.93 1210903.16 1057287.21
Diff -95475.09 -163132.54 -201339.59

Rate of Tax 35.00% Surcharge 2.50% Education Cess 2.00% Effective Rate 36.60%
Please guide us
SATISH GOEL, FCA MEMBERSHIP NO. 89414 E=MAIL satishgoelca@yahoo.com
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