dear experts,
im facing difficulties on the computation of my deferred taxation , and my boss required to do some proofing to ensure the accuaracy.
my formula is as follows: however i have purchased some assets which is under Hire purchase , please advise how do i do my proofing?

2007

2006

S$

S$

Net book value of fixed assets

per balance sheet

2,978,924

2,169,787

Deduct: Amounts not qualifying

for capital allowances

(1,913,430)

(1,995,091)

1,065,494

174,696

Deduct: Written down value for

taxation purposes as

per computations

(930,560)

(97,907)

(A)
134,934
(B)
76,789

Difference (B) – (A)

(58,145)

(B) – (A)

Proof:

Capital allowances claimed

117,066

Deduct: …

Dear All,
 
if in case an assessee has been served vigilance claim from electricity department. will this be treated as penalty under income tax act and be disallowed?
 
Regards,

Sanjay

That sounds like a local statute issue rather than a purely tax accounting question.  My guess is thought that disallowed penalties for tax purposes refer to penalties coming only from the taxing authority itself rather than a utility.
Russell

Can any one help me for calculation of deferred tax under deductable timing diference
Example: writeen down value of fixed assets as pert accounts-200
         writeen down value as per tax                      150
please privide the soluision by giving effects in the profit and loos accounts and balance sheet. The company going to introduce deferred tax in first time

Hi,
 
Here is the solution::
U need to calculate PGBP in following manner taking into consideration timing differences :
 
PBT as per P & L a/c …

Please any body can give the suggession to calculate the deferred tax under following situationThe company earned profit after tax in 2006 100 m , 2007 112 m & 2008 85m and tax rate was 30%, 35% and 30% respectively. at the end of 2008 the company given the jurnal of prior years adjustment of tk 10 m relation to 2006 of 5m 2007 of m . the company does not calculate the deferred tax in any of the previous year.

 
under above circumstances how deferred tax will be calculated
Thanks