Income tax accounting Tax expense - IT expense recorded as per this indas Defferent tax(DTE) & current tax expense(CTE) CTE- actual IT payable to govt. DTE- IT saving due to the TEMPORARY difference in CARRING AMOUNT(amount as per INDAS Principle) & TAX BASE (amount of asset as per IT act provisions) 🎉 CURRENT TAX ACCOUNTING- tax payable in next 12 MONTH Journal entry 1) to recognise CTE CTE (P&L/OCI#) AC dr To Provision for current tax (liability) 2) To recognise Advance tax PAID Advance Tax (asset) Ac dr To bank ac # Tax on item related to p&l recorded in p&l and same foe for OCI 🎉 DEFERED TAX ACCOUNTING Use balance sheet approach as per INDAS 12 To calculate DTA & DTL 😊 calculation of DTA & DTL DTA DTA AC dr To DTE(p&l /OCI) To reverse DTA in future Reverse above entry DTE Same as above concept 😊Steps to calculate DTA /DTL 53:00 1. Get CA of A&L 2. Get Tax base of A & L as per IT ACT 3. Calculate Temporary taxable difference 4.calculate DTA /DTL ON TTD 5. PASS JE(IF asked)
09:30 Rationale for DTL/DTA 19:30 why B/s appr 51:03 why future tax rate(* announced before DOR aka Substantively Enacted Tax rate) 55:00 D.Tax cal. in special cases
The explanation and your hand written notes are enough to understand IND. Just can’t express my gratitude for your efforts and assistance. Just by referring to your notes, all the sums can be solved easily! Credit goes for ur efforts.
Classs ko bich m stop krk subh k 3:30 bje ..m apko dilll s Thank You so much khna chahti hun..Kuch tym phle i have a fearr ki "FR" k itttaaa huge syllaabusss m kse revise krungiiii or itttiii bdddi bdddi classeess li jisk kuch smjh n ayaaaa.. usko smjhn bhiii tha fir sssss😞. Bt nowwww Dhere Dhere confidence ara h.. and I can say "Kar Har maidan Fatehhh" And willl gettt gooddd marksss in "FR"😀😊
FOR NEXT REVISION +Notes Tax Expense 1:13 to 3:30 Memory technique 27:16 DTL/DTA calculated is closing balance : 48:55 Deferred tax in special cases 54:10 to1:08:34 Special point 1:19:01 to1:20:25 other Points: 1:23:30 to 1:37:56
Self notes: Basics 00:00 Refer notes **For Current Tax : Current Tax Rate **For DTA/DTL : Future Tax Rate Special cases : 53:59 Revise again from video 1:09:08 Business combination - Deferred tax for goodwill **Goodwill already in Balance sheet of Acquiree - DTA/ DTL created (Pharma Ltd) **Goodwill arising on Business Acquisition - No DTA/ DTL
Helper of the last resort ❣️ Great mentor providing with the bird eyes view of every concept with clarity ✌️Technique of DTA/DTL is awesome and it's residing in veins which i found very difficult in identifying. I pour my heart out to thank you for a guidance and mentorship ✌️
sir. im from pakistan. boht decent way mai smjhaya appny. boht boht shukria.mera ye CA inter ka qualifying attempt hay ab final ki reporting b app k lectures dekh k krun ga.
I must say you explain concepts great. I am a CA final student in Pakistan and don't have time to take all lectures because of articleship but after watching your video, I can easily revise all my concepts. Thanks
Wow, what an incredible breakdown of IND AS-12...!!! Your video has really strengthened my understanding of the concept. Thank you for explaining it so clearly and comprehensively. I feel much more confident about this topic now. Keep up the fantastic work....!!! Radhe Radhe...!!!
Trick=हमेशा लडका-CA लड्की-TB के पास जता है Assets-increase=DTA सो TD को DTD बोलेंगे Assets- decrease=DTL सो TD को TTD बोलेंगे Liblity-increase=DTL सो TD को TTD बोलेंगे Liblity-decrease=DTA सो TD को DTD बोलेंगे DTA=Defered Tax Assets DTL= Defered Tax Liblity TD=Temporary Difference DTD= Deductible Temporary Difference TTD= Taxable Temporary Difference
Sir I am ACCA student but referred to lectures for concept clearing, so please come in the field of ACCA also because there are no teacher like you who explains like this.
Sir logically toh revaulation of assets jo hota hai at fair value at time of business combination it is never allowed in income tax so it is a permanant difference. So why deferred tax is created on that?
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Tax Base Defn 21:21
Memory Technique for DTA/DTL 27:30
Summary of Imp Egs - 41:00
Future Tax Rate - 51:00
Steps for Practical Qsns : 53:15
Other Points 1:23:30
Spcl cases 54:00
32:15 examples
1:08:35 103 BC adjustment
1:18:35 pharma ltd and dormant ltd
aaaa❤❤qqqq❤❤q❤❤❤qq❤❤q❤qqqq❤❤❤q❤qqqqqqqqqqwaqQWWAqaqqww❤❤❤❤❤❤❤❤❤@@aartikaliraj
27:30 Memory technique to identify DTA and DTL
Thank U so much for this Time pin. ☺️☺️ And Thank U So much Sir for all the revision lecs..Grateful to U..Radhe Rahde☺️☺️☺️
Bhavik choksi , Praveen Sharma, Praveen Jindal sabka video dekha tha maine par samajh mei sirf yaha aaya❤️❤️❤️
Bada vella hai bhai tu..
Haa bhai main dusro ke comments mei reply section mei hagne ni jata hu naa Teri tarah😂
@@shashwatsharma7774 haggta to tu hai har video me jake .. bs vahi kr tu
Bhai no doubt sir ne achha samjhaya hai
But Legends ki aise burai mat karo
Tumhe bhi pta hai parveen sharma kitna bada naam hai
Zindagi m kisika smjhaya hua dta dtl ni aaya
Aaj agaya.
Jai ho bhai
1:01:00- share based payment
Mujhe smjh n aya ye asset kyu assume kr rhe h
Income tax accounting
Tax expense - IT expense recorded as per this indas
Defferent tax(DTE) & current tax expense(CTE)
CTE- actual IT payable to govt.
DTE- IT saving due to the TEMPORARY difference in CARRING AMOUNT(amount as per INDAS Principle) & TAX BASE (amount of asset as per IT act provisions)
🎉 CURRENT TAX ACCOUNTING-
tax payable in next 12 MONTH
Journal entry
1) to recognise CTE
CTE (P&L/OCI#) AC dr
To Provision for current tax (liability)
2) To recognise Advance tax PAID
Advance Tax (asset) Ac dr
To bank ac
# Tax on item related to p&l recorded in p&l and same foe for OCI
🎉 DEFERED TAX ACCOUNTING
Use balance sheet approach as per INDAS 12 To calculate DTA & DTL
😊 calculation of DTA & DTL
DTA
DTA AC dr
To DTE(p&l /OCI)
To reverse DTA in future
Reverse above entry
DTE
Same as above concept
😊Steps to calculate DTA /DTL 53:00
1. Get CA of A&L
2. Get Tax base of A & L as per IT ACT
3. Calculate Temporary taxable difference
4.calculate DTA /DTL ON TTD
5. PASS JE(IF asked)
Current tax - 16:12
Deferred Tax- 18:48
Taxable temporary difference -24:36 & 27:02
Deductibe temporary difference -25:44
51:36 - Tax rate
DTA/ DTL in business combination -1:08:31
1:18:20 - Pharma ltd ques
National award milna chahiye .. aap dono bhai o ko .. Desh ki seva kar rahe he😊
09:30 Rationale for DTL/DTA
19:30 why B/s appr
51:03 why future tax rate(* announced before DOR aka Substantively Enacted Tax rate)
55:00 D.Tax cal. in special cases
1:19:50 Pharma ltd adjustment
1:25:00 No Profit in future
1:31:05 Disclosure
16:20 journal entries current tax
19:00 deffered tax
47:30 Calculation 53:18
54:02 special cases investment
58:54 lease
1:00:42 share based payment
1:03:35 others
1:18:40 Imp point
1:23:30 residual
The explanation and your hand written notes are enough to understand IND.
Just can’t express my gratitude for your efforts and assistance.
Just by referring to your notes, all the sums can be solved easily!
Credit goes for ur efforts.
Classs ko bich m stop krk subh k 3:30 bje ..m apko dilll s Thank You so much khna chahti hun..Kuch tym phle i have a fearr ki "FR" k itttaaa huge syllaabusss m kse revise krungiiii or itttiii bdddi bdddi classeess li jisk kuch smjh n ayaaaa.. usko smjhn bhiii tha fir sssss😞.
Bt nowwww Dhere Dhere confidence ara h.. and I can say "Kar Har maidan Fatehhh" And willl gettt gooddd marksss in "FR"😀😊
FOR NEXT REVISION +Notes
Tax Expense 1:13 to 3:30
Memory technique 27:16
DTL/DTA calculated is closing balance : 48:55
Deferred tax in special cases 54:10 to1:08:34
Special point 1:19:01 to1:20:25
other Points: 1:23:30 to 1:37:56
Self notes:
Basics 00:00 Refer notes
**For Current Tax : Current Tax Rate
**For DTA/DTL : Future Tax Rate
Special cases : 53:59 Revise again from video
1:09:08 Business combination - Deferred tax for goodwill
**Goodwill already in Balance sheet of Acquiree - DTA/ DTL created (Pharma Ltd)
**Goodwill arising on Business Acquisition - No DTA/ DTL
Bohot sare videos dekhe h half samaj aata tha par jo clarity vo example se mili h na bohot sahi
44:00, 46:00, 54:00, 1:04:00- Permanent differences, 1:19:50-Pharma ltd
सबसे ज्यादा खुशी का पल , वो है जब आपका नोटिफिकेशन आता है।
Waah
upto 54:09 normal provision, after that special cases.
Helper of the last resort ❣️ Great mentor providing with the bird eyes view of every concept with clarity ✌️Technique of DTA/DTL is awesome and it's residing in veins which i found very difficult in identifying. I pour my heart out to thank you for a guidance and mentorship ✌️
27:30 Memory technique to identify DTA and DTL (V IMP FOR YOU)
Special cases for DTA DTL: 54:01
For my personal reference.......27:30 to understand when DTA/DTL is created
Detailed but to the point. This is the quality of Agarwal brothers🙌🙌🙌🙌🙌
Share base payment 1:00:43
I just thought let's start indas12 & got this notification 😀
आपने बहुत बेहतर तरीके से सभी चीज़ो को समझाया
आपका बहुत बहुत धन्यवाद् और आभार 🙏
00:24:00 TAXABLE TEMPORARY DIFFERENCE
1:25:00 Other points
1:08:30 Business combination point
1:18:13 DTA/DTL Adjustment..Extra Vs Total
Radhe Radhe sir...Explained in detailed manner very well...Thanks a lot for these Videos.😇
Conditions to recognise DTA 1:23:35
Own reference:
1. Tax rate to be used : 50:19
Best thing is he summarises questions also in theory as a pointers and it saves ur time by skipping those questions & helping in LDR
Asset main aggar tax base zyada toh DTA banana & vice versa
Liability main aggar tax base zyada toh DTL banana & vice versa
53:59 Special cases
1:19:42 special adj
1:30:04 logic for 2nd priority
1:23:00 Prudence concept
Thank you 😊
Radhe Radhe 🙏
sir. im from pakistan. boht decent way mai smjhaya appny. boht boht shukria.mera ye CA inter ka qualifying attempt hay ab final ki reporting b app k lectures dekh k krun ga.
Tere waha toh jyada Deferred Tax Liabilities hi create hoti hongi?
@@SnowwMaanNonsense
@@pkiooknffiknbhiook why did you feel hurt didi?
1:18:16 IMP note on DTA/DTL in business combination
LDR start from 53:15
Special cases : 54:00
1:19:00 Business combination imp point
Thanku ajay agarwal sir for revision lectures..
you make things very simple and clear crystal,
Thank you so much Sir
Radhe Radhe🙏
Jai Shri Radhe Radhe , Jai Shri Krishana , Very Nice Explanation Thanks Sir
Liability mein liability (DTL) agar tax base jyada
Asset mein asset (DTA) agar tax base jyada
Vice versa
Good evening sir. I want to ask what about FTA , is it important. And why it is not discussed in revision video and no mention in notes
I must say you explain concepts great. I am a CA final student in Pakistan and don't have time to take all lectures because of articleship but after watching your video, I can easily revise all my concepts. Thanks
Chalo ab DTL create karo
@@SnowwMaan You replied late..I Already passed my Advanced Reporting subject😃
@@HassanSheikh-v5d Congratulations
The way you explained the each concept is amazing.❤
The way you explained concepts is just awesome 👍
Radhe Radhe..!!!!
Ind AS -12 swaha
Special cases 54:00
Thank you sir kab se samjhne ki koshish thi aaj aa hi gya smjh dta dtl
Wow, what an incredible breakdown of IND AS-12...!!! Your video has really strengthened my understanding of the concept. Thank you for explaining it so clearly and comprehensively. I feel much more confident about this topic now. Keep up the fantastic work....!!!
Radhe Radhe...!!!
Thanks a lot for the video....I used to confuse between DTA nd DTL but after watching this it is very easy to understand these terms ❤️
Other points of DTA 1:23:30
dhanewad sir radhe radhe jai shree khatu shyamji💛
1:19:00 note dta, dtl pharma
54:00 special cases
Trick=हमेशा लडका-CA लड्की-TB के पास जता है
Assets-increase=DTA सो TD को DTD बोलेंगे
Assets- decrease=DTL सो TD को TTD बोलेंगे
Liblity-increase=DTL सो TD को TTD बोलेंगे
Liblity-decrease=DTA सो TD को DTD बोलेंगे
DTA=Defered Tax Assets
DTL= Defered Tax Liblity
TD=Temporary Difference
DTD= Deductible Temporary Difference
TTD= Taxable Temporary Difference
2 min smjh lega toh rtna ni pdega yea ulte pulte trike se
Sir MTP part 2 nov 23 mei ek question hai jisme foreign creditor ka amount change hota hai due to exchange rate……uspe deferred tax cal. Hoga kya?
Self Reference
imp example 35:12
1:18:14 Pharma question imp point
1:18:45 imp
Sir kindly upload a revision vdo for other small IND AS
These videos really help me alot
Thank You so much Sir
Thank you sir, Radhe Radhe ❤
Your explanation style is very simple and genuine! helped to understand the concept easily. thank you so much!
Logic for dta dtl : 45:00
1:29:27 logic of lower of dtd and ttd
40:44 Logic for DTA / DTL
1:18:00 pharma ltd question..
Bhaiya please provide for CFS...much needed 🙏🙏🙏
Aane wala hai
Bhaiya please update the Business Combination revision Lecture Videos.
Eagerly Waiting🙏🙏🙏
Thanks in advance
Aane wala hai
Thank you so much sir for your efforts for us Radhe Radhe ❤❤🙏🙏
Thanku sir dil se... bhot achcha padhate h aap
Very helpful. Thank you so much for your efforts for detailed explanation.
54:20 special
Where is Atul sir ... Want to see his vedios
Sir I am ACCA student but referred to lectures for concept clearing, so please come in the field of ACCA also because there are no teacher like you who explains like this.
Special cases- 54:00
Salute to you sir!!❤❤
VVI 28:00
41:00
1:12:00
1:20:00
Radhe radhe shyam se milade 🙏🙏🚩🚩🙏🙏
Radhe Radhe ❤️❤️❤️❤️❤️❤️
Sir logically toh revaulation of assets jo hota hai at fair value at time of business combination it is never allowed in income tax so it is a permanant difference. So why deferred tax is created on that?
Thank u sir...these revision videos are really helpful ❤️
Love you sir now i m very much confident to cop up with sums only because of your this great detailed revision lots of love 🥰🥰🙏🙏
special cases : 53:58
Please upload business combination and CFS
1:22:06 Goodwill circular reference
Thank you sir for the revision lecture. It really helped a lot.
बोलो वृंदावन बिहारी लाल की जय 🧡🧡 राधे राधे 🎉🎉🙏🙏
My Ind AS 12 is sorted thank you sir!
Thank You so much Sir!🙏
Radhe Radhe!🙏
Best explanation on ind as 12... No one else can do it except you sirrr
1:00:00 SBP
Thank You 🙏..... It's worth it....