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Change in tax rate effect on Opening deferred tax asset - Printable Version

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Change in tax rate effect on Opening deferred tax asset - Dard - 02-10-2015 05:01 PM

Only Qualified Individuals reply please.

If there is an opening deferred tax asset of Rs. 110,000 at 34% as at January 2014 and closing deferred tax at 254,000 at 33% as at December 2014 (Calculated using the Statement of Financial Position Method), do we need to apply the closing tax rate of 33% to the opening deferred tax asset?

I will be thankful.