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| DTA (Deferred Tax Asset) | DTL (Deferred Tax Liability) |
| If In The Current Year We Have To Pay More Tax But In Future We Will Get Tax Benefit We Create Dta | If In The Current Year We Have To Pay Less Tax As Computed By Co Act Then We Create Dtl |
| JOURNAL ENTRY | JOURNAL ENTRY |
| DTA (Non Current Assets)….Dr | P& L Dr |
| To P&L | To DTL (Non Current Liability) |
| Examples | Examples |
| 1 Depreciation as Per Income Tax is less than Companies Act | Depreciation as Per Income Tax is more than Companies Act |
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2 Section 40(A) 30% Of Expense On Which Tds Not Deposited Allowed In Year When Actually Deposited) |
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3. Section 43B Interest On Bank Loan/Bonus/Pf Not Paid Till Return Filing Date 30 Sept,If Paid After 30 Sept,Allowed Next Year |
