Advanced AccountingQuestion 5272 of 305
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6. What would be the value of the Deferred Tax Liabilities as on 31-03-2024?

Options

A` 1,23,600
B` 3,30,000
C` 1,52,000
D` 1,20,000
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Correct Answer

✅ Option B — ` 3,30,000

All Options:

  • A` 1,23,600
  • B` 3,30,000 ✓
  • C` 1,52,000
  • D` 1,20,000

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Detailed Solution & Explanation

To calculate the value of the Deferred Tax Liabilities (DTL) as on 31st March, 2024:
1. Opening DTL as on 1st April, 2023 is ‘ 2,10,000\displaystyle `\,2,10,000.
2. The difference between Tax Depreciation (‘ 18,00,000\displaystyle `\,18,00,000) and Book Depreciation (‘ 12,00,000\displaystyle `\,12,00,000) is:
Temporary Difference=‘ 18,00,000−‘ 12,00,000=‘ 6,00,000\text{Temporary Difference} = `\,18,00,000 - `\,12,00,000 = `\,6,00,0003. DTL created during the year 2023-24 is:
DTL Created=‘ 6,00,000×20%=‘ 1,20,000\text{DTL Created} = `\,6,00,000 \times 20\% = `\,1,20,0004. Closing DTL as on 31st March, 2024 is:
Closing DTL=Opening DTL+DTL Created=‘ 2,10,000+‘ 1,20,000=‘ 3,30,000\text{Closing DTL} = \text{Opening DTL} + \text{DTL Created} = `\,2,10,000 + `\,1,20,000 = `\,3,30,000
Hence, **Option B** is the correct answer.

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