M. Chandra Ltd has provided the following information: Depreciation as per accounting records ?12,00,000, Depreciation as per income tax records ?30,00,000. Unamortized preliminary expenses as per income tax records ?1,80,000, Tax rate 40%. There is adequate evidence of future profit sufficiency. As per AS 22 Deferred Tax Asset/ Liability to be recognized will be

The syllabus (with weightage):
A. GAAP and Accounting Standards 20%
B. Accounting of Business Combinations & Restructuring 20%
C. Consolidated Financial Statements 20%
D. Developments in Financial Reporting 25%
E. Government Accounting in India 15%