11 February 2009
Plz. answer the followings:- 1)How the Carry Forwarded Loss shown in the Balance Sheet? 2)How the unabsorbed depreciation is shown in the Balance Sheet? 3)In case of Sick Industry where there is no Profit, how the Loss is Shown in the Balance Sheet? 4)Carry Forwarded Loss can be carried for successesive 8 Yr.s, after this 8th yr. by which A/C entry this Loss is written off?
11 February 2009
Carry forward loss and unabsorbed deprecation is always not possible to be correctly calculate. it is only possible to verify abd see from computation due to following reason. 1 In case of company financial statement are always prepared as per companies act however due to difference in taxation AS 22 is applicable but above said item can not be shown separately as carry forward. 2 Incase of other assessee business loss can be verify but in case like TDS non deducted/ paid within time period repspective expenses is charged in p and l account but added back while makeing computation Therefore we can say that it is not possible to verify it from financial. However we can give a note regarding above and therfore it will help us in carry forward and set off as per provisions
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