XML 61 R45.htm IDEA: XBRL DOCUMENT
v3.21.1

Federal Income Taxes (Tables) | 12 Months Ended
--- | ---
Jan. 31, 2021
Federal Income Taxes And Occupancy Taxes Tables Abstract |
Schedule of Deferred Tax Assets and Liabilities | Total and net deferred income tax assets on January 31,
|  | 2021 |  |  | 2020 |
Net operating loss carryforwards |  | $ | 1,352,000 |  |  | $ | 1,075,000 |
Bad debt allowance |  |  | 2,000 |  |  |  | 4,000 |
Accrued expenses |  |  | (2,000 | ) |  |  | (4,000 | )
Syndications |  |  | 2,923,000 |  |  |  | 2,923,000 |
Prepaid Insurance |  |  | (4,000 | ) |  |  | - |
Alternative minimum tax credit |  |  | 51,000 |  |  |  | 51,000 |
Total deferred tax asset |  |  | 4,322,000 |  |  |  | 4,049,000 |
Deferred income tax liability associated with book/tax |  |  | (1,502,000 | ) |  |  | (1,551,000 | )
Net deferred income tax asset |  |  | 2,820,000 |  |  |  | 2,498,000 |
Valuation allowance |  |  | (2,820,000 | ) |  |  | (2,498,000 | )
|  | $ | - |  |  | $ | - |
Schedule of Income Tax Provision | Income taxes for the year ended January 31,
|  | 2021 |  |  | 2020 |
Current income tax provision (benefit) |  |  | (68,661 | ) |  |  | (294,402 | )
Deferred income tax provision (benefit) |  |  | 321,306 |  |  |  | 384,298 |
Change in valuation allowance |  |  | (321,306 | ) |  |  | (384,298 | )
Net income tax expense (benefit) |  |  | (68,661 | ) |  |  | (294,402 | )
Schedule of Effective Income Tax Rate Reconciliation | The differences between the statutory and effective tax rates are as follows for the year ended January 31, 2021:
|  | 2021 |
|  | Amount |  |  | Percent |
Federal statutory rates |  | $ | (309,200 | ) |  |  | 21 | %
State income taxes |  |  | (77,000 | ) |  |  | 5 | %
Change in valuation allowance |  |  | 321,300 |  |  |  | -22 | %
True-up to prior year returns |  |  | (4,000 | ) |  |  | 0 | %
Effective rate |  | $ | - |  |  |  | 5 | %
The differences between the statutory and effective tax rates are as follows for the year ended January 31, 2020:
|  | 2020 |
|  | Amount |  |  | Percent |
Federal statutory rates |  | $ | (477,000 | ) |  |  | 21 | %
State income taxes |  |  | (120,000 | ) |  |  | 5 | %
Change in valuation allowance |  |  | 384,300 |  |  |  | -17.00 | %
Amended to 2017 Amended Tax Returns and Other Adjustments |  |  | (81,700 | ) |  |  | 4 | %
Effective rate |  | $ | - |  |  |  | 0 | %

X
- References No definition available. + Details
Name: | IHT_FederalIncomeTaxesAndOccupancyTaxesTablesAbstract
Namespace Prefix: | IHT_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration